Jinko Sees Sunnier Skies In Germany With New Fundraising Plan
Portfolio Pulse from The Bamboo Works
JinkoSolar Holding Co. Ltd. plans to raise over $600 million through a GDR sale in Germany to fund expansions in China and the U.S. The U.S.-listed JinkoSolar's shares have dropped 45% this year, highlighting a valuation gap with its Shanghai-listed counterpart. The GDRs are expected to trade at a premium to Jinko's U.S. shares, despite being sold at a discount to their Shanghai price.
October 22, 2024 | 1:31 pm
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JinkoSolar Holding Co. Ltd. is raising over $600 million through a GDR sale in Germany to fund expansions in China and the U.S. The U.S.-listed shares have dropped 45% this year, indicating a valuation gap with its Shanghai-listed counterpart.
JinkoSolar's fundraising through GDRs in Germany is a strategic move to leverage higher valuations seen in Shanghai compared to the U.S. This could positively impact the stock as it addresses financial challenges and funds expansion projects.
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