On October 20, GeLongHui reported that JinkoSolar (688223.SH) disclosed a plan to issue global depositary receipts overseas, adding domestic basic A-share stocks. The company plans to issue GDRs and apply for listing on the Frankfurt Stock Exchange. The newly issued basic securities represented by this GDR will not exceed 10.00% of the total common stock before this issuance. Considering domestic and foreign regulatory requirements, market conditions, and other factors, the conversion rate of this GDR to basic A-share stocks is set at 10 shares of common stock per GDR.
The total amount of funds raised by the company through this GDR issuance will not exceed RMB 4.5 billion (or equivalent in foreign currency). The net amount of funds raised after deducting issuance expenses will be used for the following projects: a 1GW high-efficiency module project in the USA, the construction project of the second phase of a 14GW integrated production base in Shanxi, the second phase 14GW high-efficiency module integrated production line project in Shanxi, the second phase 14GW slice and high-efficiency solar cells integrated production line project in Shanxi, the second phase 14GW monocrystalline silicon rod slicing integrated production line project in Shanxi, and for supplementary working capital or repayment of bank loans.
