JinkoSolar primed for IPO this month as new information emerge

Jan 7, 2022 02:22 PM ET
  • JinkoSolar has actually exposed brand-new information concerning its potential initial public offering (IPO), confirming an offering timetable, placement dimension which n-type cell and also modules will certainly be the emphasis of ability expansions.
JinkoSolar primed for IPO this month as new information emerge
Image: JinkoSolar

In a declaration provided today, the 'Solar Module Super League' (SMSL) manufacturer confirmed that it intends to provide up to 2 billion shares in its primary operating subsidiary Jinko Solar on Shanghai's STAR Market, standing for around 20% of the company's superior shares after the listing is complete.

Prices details, and for that reason desired profits, are to be revealed next week (13 January 2022), with the outcomes of the listing and subsequent float revealed by 21 January 2022.

China Securities and also CITIC Securities are serving as joint-lead experts on the IPO, with China-headquartered law firm King & Wood Mallesons standing for Jinko throughout the procedure.

While overall gross proceeds are still to be figured out, JinkoSolar has actually released its financial investment prospectus via the Shanghai Stock Exchange's STAR Market-- located here-- today, which states a number of the investment dedications previously made, but also offers some brand-new information.

Jinko has actually reiterated that profits of up to RMB6 billion (US$ 940 million) will be utilized to support the building of 7.5 GW cell as well as 5GW module production facilities in Haining City, Zhejiang Province, an R&D centre additionally set for Haining, while also supplementing the firm's overall functioning funding.

Those information were formerly exposed in June last year, however within its investment program JinkoSolar has today recommended the cell as well as module center will certainly contribute in the direction of the maker's n-type manufacturing expansion, which the SMSL supplier supplied details of throughout its Q3 2021 results contact November.

The brand-new centers are expected to take two years to finish.

Today it was likewise reported that JinkoSolar had actually authorized a 1.85 GW TOPCon module shipment take care of China National Petroleum Corporation for this year.

The financial investment program likewise beams some light onto JinkoSolar's R&D concerns, indicating some short- and medium-term work programs for its RMB750 million R&D centre.

The center, which will finish building and construction one year after work commences, will concentrate promptly on study right into fully passivated back contacts and various other passivation and also module-level modern technologies, while perovskites and lamination technologies will certainly be come close to in the longer-term, the prospectus states.

Additionally, the syllabus says that the listing is being launched in reaction to the "significantly strong competitors" experienced within the PV field, the profits of which will certainly enable Jinko to come to be much more vertically-integrated and improve automation within its production base.

Xiande Li, president at JinkoSolar, stated the "landmark" listing would certainly allow the business to "further increase our growth".

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