to-the-point: JinkoSolar to sell up to USD 100m of ADSs

NYSE. Author: License: José Maria Silveira Neto. Creative Commons, Attribution-ShareAlike 2.0 Generic

Sep 27 (Renewables Now) - Chinese solar manufacturer JinkoSolar Holding Co Ltd (NYSE:JKS) is planning to sell up to USD 100 million (EUR 85m) of American depositary shares (ADSs) via an at-the-market equity offering programme.

Proceeds will be used for corporate purposes, such as to cover capital expenditures related to solar project development abroad and working capital.

Under the equity offering programme, the company will be selling stock from time to time under ordinary broker transactions on or through the New York Stock Exchange (NYSE) or other markets. Credit Suisse and Barclays have been appointed sales agents.

JinkoSolar earlier this month reported record high second-quarter module shipments of 2.88 GW, but its profit fell.

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Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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