LONDON, UK / ACCESSWIRE / January 29, 2018 / Active-Investors.com has just released a free research report on JinkoSolar Holding Co., Ltd (NYSE: JKS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=JKS as the Company's latest news hit the wire. On January 26, 2018, the Company announced that it has terminated its previously announced at-the-market (ATM) offering of its American Depositary Shares (ADS). The decision of the Company is effective immediately, i.e. on January 26, 2018. The Company has also shared that it did not sell any American Depositary Shares under the ATM. The Company did not share the reasons for taking this decision. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, JinkoSolar Holding most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=JKS
Backdrop
JinkoSolar had announced in September 2017 that it planned to sell its American depositary shares (ADS) valued approximately $100 million. Each JinkoSolar's ADS represented four ordinary shares of the Company. The sale of JinkoSolar's ADS was to be done via an at-the-market equity offering program (ATM Program). The Company had at that time informed that it had filed the requisite prospectus supplement for the sale of ADS with the Securities and Exchange Commission (SEC) giving complete details of the terms of the offering.
The Company retained Credit Suisse Securities (USA) LLC and Barclays Capital Inc. as sales agents for the sale of the ADS. The Company planned to sell the ADS in batches as and when required either through ordinary broker transactions or via the New York Stock Exchange (NYSE) or any other markets selling the Company's ADS. The Company planned to sell the ADS at prevailing market rates or at the rates negotiated by the sales agents. The funds raised from the sale of the ADS were earmarked by JinkoSolar to meet its capital expenditures related to existing offshore solar power plant development, working capital requirements, and other general corporate expenses.
About JinkoSolar Holding Co., Ltd
Shanghai, China-based JinkoSolar is a global leader in the solar PV industry. It is a fast-growing, vertically-integrated manufacturer of solar power products of including silicon wafers, solar cells and modules. The Company distributes its solar products and services to international utility, commercial and residential customers across China, US, Japan, Germany, UK, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, etc.
The Company has the capacity to manufacture 7 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 8 GW for solar modules annually as on September 30, 2017. The Company has 8 production facilities and is supported by a global team of over 15,000 employees. JinkoSolar's global network include 16 oversea subsidiaries of which two are in Japan and one each in Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa, and United Arab Emirates. The Company has over 15 global sales offices of which two are in China and others are in UK, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, and Colombia.
In December 2017, the Company became a 2016-17 leader according to the of the Silicon Valley Toxics Coalition's (SVTC) Solar Scorecard and was ranked in the top 5 manufacturers out of the 35 manufacturers that were assessed. The SVTC Solar Scorecard is a system which ensures that the PV (photovoltaic) sector is safe for the environment, workers, and communities and is a resource for consumers, institutional purchasers, investors, developers, and anyone who wants to purchase PV modules from responsible product manufacturers.
Stock Performance Snapshot
January 26, 2018 - At Friday's closing bell, JinkoSolar Holding's stock was slightly up 0.94%, ending the trading session at $22.63.
Volume traded for the day: 386.21 thousand shares.
Stock performance in the past twelve-month period - up 55.43%
After last Friday's close, JinkoSolar Holding's market cap was at $735.25 million.
Price to Earnings (P/E) ratio was at 38.03.
The stock is part of the Technology sector, categorized under the Semiconductor - Specialized industry. This sector was up 1.6% at the end of the session.
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