JinkoSolar announces stock/debt offering, shares -3.1% AH


On a day when its shares gained 9.4% in regular trading and closed near their 52-week high of $37.98 (made last week), JinkoSolar (JKS) announces it's selling 2.75M shares (current value of $97M) and $100M worth of convertible senior notes due 2019. Underwriters will have 412.5K-share and $15M overallotment options. (PR)

Jinko is far from the only solar name to take advantage of a massive solar stock rally to raise cash. Following a 3.5M-share offering the company carried out in September, Jinko ended Q3 with $218.7M in cash/equivalents and $392.8M in debt.

Yesterday, Jinko sold off after announcing it's mulling a sale or spinoff of its downstream (solar project) unit. But shares more than made up for it today.

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Comments (2)
  • getmeoutofthisplace
    , contributor
    Comment (1) | Send Message
     
    Is this good or bad news for JKS?
    15 Jan 2014, 02:18 PM Reply Like
  • BuyToSell
    , contributor
    Comments (481) | Send Message
     
    It's good news but short term the stock price will be lower. Look at it as a great chance to buy more shares for cheap.
    15 Jan 2014, 02:29 PM Reply Like
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