China’s Jinko Solar (JKS) IPO Begins Trading
Three months ago, Jinko Solar (JKS) withdrew plans for an IPO due to poor market conditions. The IPO market has certainly improved, but I don’t see any improvement in market conditions. That didn’t stop the company from going ahead and opening for trading today on the NYSE with shares pricing at $11 which was at the low end of the expected range. Shares aren’t doing much today, down just a bit at $10.90. Perhaps they see the market getting worse and wanted to raise cash before the IPO market dries up again. The stock trades under the ticker JKS and we’ll begin covering any news and add it to the solar tracking table soon.
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Financially, Jinko has struggled as much as any other solar company has at least according to what they provided in the prospectus regarding their 2008/2009 results. Revenues declines 42% year over year, but the company managed to squeeze out a small profit. I’ll have more on their 2010 results next week and take a closer look.
At the end of last year they had a production capacity of 300MW for ingots and wafers, 150MW for solar cells and 150MW for modules and did around $150 million in revenues in 2009, so certainly one of the smallest publicly traded China solar names.

By Green Stocks on 05/14/2010 10:54 am PST -- Green