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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Are JinkoSolar Shares Trading Higher Premarket?

JinkoSolar JKS NYSE
  • JinkoSolar Holding Co Ltd's (NYSE:JKS) principal operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), has completed its initial public offering process and started trading on the Shanghai Stock Exchange's Sci-Tech innovation board on January 26, 2022.
  • Jiangxi Jinko has issued 2 billion shares representing 20% of the total 10 billion shares outstanding after the IPO. 
  • Jiangxi Jinko issued the shares at RMB5.00 per share fetching gross proceeds of RMB10.00 billion. 
  • After the IPO, JinkoSolar owns 58.62% of Jiangxi Jinko. 
  • JinkoSolar is one of the largest solar module manufacturers globally.
  • Price Action: JKS shares traded higher by 12.6% at $46.21 in the premarket session on the last check Wednesday.
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