Jinko Solar announced closing ADS offering $35 Million concurrent private placement
Post date: 12/02/2018 - 18:32
Chinese Jinko Solar Holding Co., Ltd. closed the follow-on offering of 3.6 million American depositary shares (ADS), each representing four ordinary shares of the Company, par value $0.00002 per share, at $18.15 per ADS. Concurrently with the completion of the ADS offering, the Company closed the separate private placement with Tanka International Limited, an exempted company incorporated in the Cayman Islands held by Xiande Li, chairman of the Company, and Kangping Chen, chief executive officer of the Company, of its purchase of $35 million of ordinary shares of the Company.
Jinko Solar intends to use the net proceeds »for general corporate purposes«, including capital expenditures for the capacity expansion and upgrade including the construction and operation of our manufacturing facility in the United States, and working capital.