JinkoSolar gets board's nod to sell USD 100m of ADSs

The board of directors of JinkoSolar Holding Co Ltd (NYSE:JKS) has approved an at-the-market equity offering programme through which the company will be able to sell up to USD 100 million (EUR 82.6m) worth of American depositary shares (ADSs).

The Chinese solar module manufacturer said today that it is currently preparing the relevant documentation for this programme. Once it files a registration statement plus the relevant prospectus supplement with the US Securities and Exchange Commission (SEC), the company will have the right to sell ADSs at market prices prevailing at the time of the transaction or at negotiated prices.

Each of JinkoSolar’s ADSs represents four ordinary shares.

With nine factories around the world, JinkoSolar sells its products to utilities, commercial and residential customers in China, the US, Europe, Latin America, Asia and South Africa. As of end-September, the company has 20 GW of annual production capacity for mono wafers, 11 GW for solar cells and 25 GW for modules.

(USD 1.0 = EUR 0.826)

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