JinkoSolar Extends Share Repurchase Program Launched in July 2022 for an Additional 18-Month Period Through June 30, 2025
Portfolio Pulse from Benzinga Newsdesk
JinkoSolar Holding Co., Ltd. (NYSE:JKS) has extended its share repurchase program, initially launched in July 2022, for an additional 18 months until June 30, 2025. The program authorizes the repurchase of up to US$200 million of its ordinary shares represented by ADSs. To date, JinkoSolar has repurchased approximately US$9.1 million of the ADSs, leaving around US$190.9 million available for repurchase under the extended program.
December 20, 2023 | 7:28 am
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JinkoSolar has extended its share repurchase program through June 30, 2025, with approximately US$190.9 million remaining for repurchases. This could signal confidence by management in the company's value and may support the stock price in the short term.
Share repurchase programs often indicate a company's belief that its shares are undervalued and represent a good investment. By extending the program, JinkoSolar is reinforcing this belief, which could lead to positive investor sentiment and potential upward pressure on the stock price in the short term. The confidence score is high due to the direct action taken by the company, but not at the maximum because the market's reaction can be influenced by broader market conditions and investor perceptions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100