Suntech Power Closes $277M ADS Offering

Suntech Power Holdings Co., Ltd. ("Suntech" or the "Company") (NYSE: STP - News), the world's largest manufacturer of crystalline silicon photovoltaic (PV) modules, today announced that its follow-on public offering of 23,000,000 American Depositary Shares ("ADSs"), each representing one ordinary share of the Company, was closed on May 28, 2009. The aggregate amount of ADSs sold reflects the exercise in full by the underwriters of their option to purchase up to 3,000,000 additional ADSs to cover over-allotments. The Company received aggregate net proceeds of approximately $277 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.