(Yicai) Oct. 21 — Shares in Jinko Solar surged as much as 7.9 percent today after the world’s biggest solar panel maker said it intends to go public on the Frankfurt Stock Exchange in a secondary listing that could see it raise as much as CNY4.5 billion (USD632.5 million).
Jinko [SHA:688223] closed up 4 percent at CNY8.90 (USD1.25) today.
The overseas fundraiser will cement Jinko Solar’s position as a leading maker of the latest N-type high-efficiency PV modules, which have a higher photoelectric conversion efficiency than ordinary panels, the company said in its global depositary receipts issue scheme released yesterday.
It will also provide the funds for the construction of a solar panel plant in the US, enabling the firm to deal with international trading barriers in a flexible manner, the Shanghai-based firm said.
CNY2.7 billion (USD379.6 million) of the proceeds will be used to build a large PV factory in northern Shanxi…
