JinkoSolar To Reduce Stake In Subsidiary To 53.26% With RMB 4.5B GDR Offering
Portfolio Pulse from Benzinga Newsdesk
JinkoSolar plans to reduce its stake in its subsidiary Jiangxi Jinko to 53.26% through a GDR offering on the Frankfurt Stock Exchange, potentially raising RMB 4.5 billion. The proceeds will fund projects in the U.S. and China, subject to regulatory approvals.
October 21, 2024 | 10:03 am
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JinkoSolar is reducing its stake in Jiangxi Jinko to 53.26% through a GDR offering, potentially raising RMB 4.5 billion. The funds will support expansion projects in the U.S. and China, pending regulatory approvals.
The GDR offering will provide JinkoSolar with significant capital to fund expansion projects, which could enhance its growth prospects. The reduction in stake might be seen as a strategic move to optimize capital allocation.
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