JinkoSolar (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its principal operating subsidiary, Jinko Solar Co., Ltd., is ready to be listed on the Shanghai Stock Exchange’s Sci-Tech innovation board (STAR Market) on January 26, 2022.
Shanghai Stock Exchange’s Sci-Tech innovation board
The company plans to issue 2 billion shares with the proposed pricing at 5 RMB per share. The static P/E ratio for the IPO is 54.9 times, while the P/B ratio is 3.83 times.
The net amount of funds raised is about 9.723 billion RMB, far exceeding the planned 6 billion RMB.
The raised funds will be mainly used for the construction of a 7.5 GW high-efficiency cell facility, a 5 GW high-efficiency cell and module facility, and the Haining R&D center.
JinkoSolar was established in 2006. Its main business covers the research and development, production and sales of solar photovoltaic modules, cells and silicon wafers.
It is a world-renowned manufacturer of photovoltaic products. According to GlobalData, the company ranked first in global PV module shipments for four consecutive years from 2016 to 2019.