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JinkoSolar's Arm Completes IPO, Starts Trading On Shanghai Stock Exchange

JinkoSolar Holding Co., Ltd. (JKS), a Chinese solar module maker, said Wednesday that its operating subsidiary, Jinko Solar Co., Ltd or Jiangxi Jinko, has completed its initial public offering or IPO process and has started trading on the Shanghai Stock Exchange.

On the first trading day of January 26, Jiangxi Jinko's shares closed at RMB10.55 per share, up 111 percent, compared with the IPO price.

Earlier, Jiangxi Jinko had issued two billion shares, representing approximately 20 percent of the total 10 billion shares outstanding. The shares were issued at a price of RMB5 per share and the total gross proceeds of the IPO are around RMB10 billion.

Following IPO process, JinkoSolar owns approximately 58.62 percent of Jiangxi Jinko.

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