On the evening of October 20, Jinko Solar announced that it plans to list on the Frankfurt Stock Exchange in Germany through a Global Depositary Receipt (GDR) issuance. Jinko Solar will become the second photovoltaic (PV) company this week, following Sungrow, to disclose plans for issuing GDRs and listing in Germany.
According to the announcement, Jinko Solar aims to raise no more than RMB 4.5 billion or the equivalent in foreign currency through this GDR issuance, which will be primarily used for a 1GW high-efficiency module project in the United States and the Phase II 14GW integrated production base project in Shanxi. The GDR issuance price will be no lower than 90% of the average A-share closing price over the 20 trading days preceding the pricing benchmark date.
1、U.S. 1GW High-Efficiency Module Project
The company plans to establish a wholly-owned subsidiary to implement this project,…
