JinkoSolar Announces GDR Offering by Jiangxi Jinko
JinkoSolar (NYSE:JKS) Holding Co., Ltd. ("JinkoSolar" or the "Company"), a leading solar module manufacturer, announced that its subsidiary, Jiangxi Jinko, intends to issue up to 1,000,519,986 A Shares at a par value of RMB1.0 each in the form of Global Depositary Receipts (GDRs). Each GDR will represent 10 Shares.
Jiangxi Jinko plans to list the GDRs on the Frankfurt Stock Exchange in Germany. The offering's size may be adjusted based on market conditions, subject to approval from Jiangxi Jinko's board and shareholders.
This GDR offering will represent no more than 10% of Jiangxi Jinko's total share capital prior to the offering. JinkoSolar currently holds approximately 58.59% equity interest in Jiangxi Jinko, which will fall to 53.26% post-offering (assuming all shares are issued).
Gross proceeds from the GDR offering are expected to be up to RMB4.5 billion, allocated toward:
1. Construction of a 1 GW High-efficiency Module Project in the U.S.
2. Development of the Shanxi Phase II 14 GW Integrated Production Base Project for manufacturing solar components.
3. Working capital or repayment of bank loans for Jiangxi Jinko.
The completion of the GDR offering hinges on approvals from Jiangxi Jinko's shareholders and various regulatory bodies, including the Shanghai Stock Exchange and Chinese authorities.
About JinkoSolar Holding Co., Ltd.
JinkoSolar is a leading solar module manufacturer distributing products and services globally, including China, the U.S., Europe, and several other regions. JinkoSolar operates over 10 production facilities and has a vast international sales network.
For more information, visit: JinkoSolar
Safe Harbor Statement
This press release contains forward-looking statements under U.S. securities law. These statements are subject to risks and uncertainties that may affect actual results. JinkoSolar does not undertake any obligation to update forward-looking statements post-release.
Contact Information
In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: [email protected]
Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: [email protected]
In the U.S.:
Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: [email protected]
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