Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

Jan. 13, 2022, 6:53 a.m. EST

JinkoSolar stock gains as IPO of Jiangxi Jinko subsidiary in Shanghai expected to raise about $1.6 billion

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    JinkoSolar Holding Co. Ltd. ADR (JKS)
  • X
    iShares MSCI China ETF (MCHI)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of JinkoSolar Holding Co. Ltd. /zigman2/quotes/207601099/composite JKS -0.08% gained 0.6% in premarket trading Thursday, after the China-based solar company said it could raise about $1.6 billion from the listing of its principal operating subsidiary on a Shanghai exchange. The company said it is applying for an initial public offering of Jinko Solar Co. Ltd., known as Jiangxi Jinko, on the Shanghai Stock Exchange's Sci-Tech innovation board. The company plans to offer 2 billion shares in the IPO, representing about 20% of the shares outstanding. The proposes pricing is RMB5.00 per share, for estimated gross proceeds of RMB10.00 billion ($1.57 billion). After the IPO, JinkoSolar will own 58.6% of Jiangxi Jinko. JinkoSolar's stock has dropped 12.5% over the past three months through Wednesday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI -0.30% has lost 7.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.88% has gained 8.3%.

/zigman2/quotes/207601099/composite
US : U.S.: NYSE
$ 57.12
-0.05 -0.08%
Volume: 86,062
May 23, 2022 9:56a
P/E Ratio
62.60
Dividend Yield
N/A
Market Cap
$2.79 billion
Rev. per Employee
$239,814
loading...
/zigman2/quotes/206267952/composite
US : U.S.: Nasdaq
$ 49.59
-0.15 -0.30%
Volume: 388,043
May 23, 2022 9:56a
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,935.63
+34.27 +0.88%
Volume: 296.87M
May 23, 2022 9:56a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.