The program does not obligate LDK Solar to acquire any particular amount of its ADSs and may be modified or suspended at any time at the sole discretion of the company.
LDK Solar chairman and CEO Xiaofeng Peng said the company remains confident in its current outlook as well as the long-term prospects for its business.
"However, we believe our ADSs are currently grossly undervalued. We believe our share buyback program not only represents a good investment for our company, but also demonstrates our commitment to enhance shareholder value," Peng said.
LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules and systems.
