SHANGHAI – JinkoSolar (NYSE:) Holding Co., Ltd. (NYSE: JKS), a leading global solar module manufacturer, announced today that its principal operating subsidiary, Jiangxi Jinko, is planning to issue up to 1,000,519,986 A shares as Global Depositary Receipts (GDRs) on the Frankfurt Stock Exchange in Germany. The move represents a strategic effort to expand the company’s financial base, with each GDR equivalent to 10 A shares of Jiangxi Jinko.
The offering is contingent on market conditions and may be adjusted by the board of directors, with the GDRs accounting for no more than 10% of Jiangxi Jinko’s total share capital prior to the offering. Currently, JinkoSolar owns approximately 58.59% of Jiangxi Jinko, which is expected to decrease to roughly 53.26% post-offering, assuming full issuance of the proposed GDRs.
The anticipated gross proceeds from the offering could reach RMB4.5 billion, which after offering expenses, are earmarked…
