January 25 (Renewables Now) - JinkoSolar Holding Co Ltd (NYSE:JKS) announced on Monday that the stock of its principal operating subsidiary will start trading on the bourse in Shanghai on January 26, 2022.
The shares of Jinko Solar Co Ltd, also referred to as Jiangxi Jinko, will be listed on the Shanghai Stock Exchange's Sci-Tech innovation board following the unit’s recent initial public offering (IPO). The transaction, priced earlier in January, involved the issuance of 2 billion shares at CNY 5.00 (USD 0.79/EUR 0.70) apiece for a total gross amount of CNY 10 billion.
JinkoSolar previously said that after the IPO, it will own some 58.62% of Jiangxi Jinko. The parent company expects that the move will further accelerate its growth.
JinkoSolar is a solar module maker with a vertically-integrated solar product value chain. As of September 30, 2021, it has an integrated annual capacity of 31 GW for mono wafers, 19 GW for solar cells and 36 GW for panels. The company operates nine production facilities around the world.
(CNY 1.0 = USD 0.158/EUR 0.140)