JinkoSolar (JKS) Announces $100M At-the Market ADS Offering
JinkoSolar Holding Co., Ltd. (NYSE: JKS) today announced that it has filed a prospectus supplement to sell up to an aggregate of US$100,000,000 of its American depositary shares ("ADSs"), each representing four ordinary shares, through an at-the-market equity offering program. The ADSs will be offered through Credit Suisse and Barclays as sales agents.
Sales, if any, of the ADSs under the at-the-market equity offering program will be made from time to time, at the Company's discretion, by means of ordinary broker transactions on or through the New York Stock Exchange (the "NYSE") or other markets for its ADSs, sales made to or through a market maker other than on an exchange, or otherwise in negotiated transactions at market prices prevailing at the time of sale or at negotiated prices, or as otherwise agreed with the sales agents. JinkoSolar intends to use the net proceeds from the sales of its ADSs for general corporate purposes, including capital expenditures of its existing offshore solar power plant development and working capital.