JinkoSolar has revealed plans to issue global depository receipts (GDRs) on the Frankfurt Stock Exchange to raise €580 million ($627.6 million).
JinkoSolar’s board has approved a proposal to issue GDRs on the Frankfurt Stock Exchange. The GDRs, backed by newly issued A-shares in China, mark a significant step in the company’s overseas expansion.
The funds, capped at CNY 4.5 billion, will support several projects. JinkoSolar plans to invest CNY 500 million in a 1 GW advanced solar module manufacturing facility in Florida. It will use another CNY 2.74 billion to fund the…
