After raising RMB 3,1 billion (approximately $458 million) through an equity financing round, Jinko Solar Holding has announced that it is preparing to list its subsidiary Jiangxi Jinko on China’s STAR Market. The news first surfaced in September, when the company said it was considering the potential listing in order to drive new growth and attract future investment.
“The successful completion of this fundraising represents an important milestone for us and takes us one step closer to the planned listing. It also provides us with the capital to expand our capacity and further strengthen our leading position in R&D (Research and Development),” highlighted Kangping Chen, CEO of Jinko Solar.
“We appreciate the strong support from our new investors and are committed to creating sustainable value for all of our shareholders,” added the executive.
Investors participating in the capital increase include China Industrial Bank Group, CIIT Asset Management, YunShang Fund, Huaho Capital, China Capital Management and China Securities Investment. Together with the company’s founders and senior management group, these investors will collectively own a 26,7% equity stake in Jinko’s subsidiary.
