BEIJING, Sept.23 (Xinhua) -- JinkoSolar Holding Co., Ltd. (JKS.NYSE), a Chinese leading solar module manufacturer announced Tuesday its plan of listing its principal operating subsidiary Jinko Solar Co., Ltd. (Jiangxi Jinko) on domestic stock market.
The company said that it is considering to list Jiangxi Jinko on China's Nasdaq-style sci-tech innovation board, or the STAR market of Shanghai Stock Exchange within the next three years after certain restructuring within the group.
The company board has approved an equity financing plan to qualify Jiangxi Jinko for a STAR Market listing and to raise additional capital to support its continuous expansion, the company said in a news release.
Under the equity financing plan, investors including some China-based third-parties, JinkoSolar's founders, Li Xiande, Chen Kangping and Li Xianhua, as well as senior management personnel have agreed to invest an aggregate of 3.1 billion yuan into Jiangxi Jinko for an aggregate of 26.7 percent stake in Jiangxi Jinko.
Relevant transaction is subject to conditions and is expected to be completed by the end of October 2020.
The listing of Jiangxi Jinko on the STAR Market still depend on various factors, it said.
Boasting a vertically integrated solar product value chain, JinkoSolar had its integrated annual capacity for mono wafers, solar cells and solar modules reach 17.5GW, 10.6GW and 16GW as of the end of this March. It so far has 7 productions facilities globally. (Edited by Yan Yulan, Niu Huizhe with Xinhua Silk Road, firstname.lastname@example.org)