RTTNews | Jan 13, 2022 10:44AM EST

10:44 Thursday, January 13, 2022 (RTTNews.com) - Chinese solar energy company, JinkoSolar Holding Co., Ltd. (JKS), is trading 2% higher on the market after the company announced that its principal subsidiary, Jinko Solar Co., Ltd. ("Jiangxi Jinko"), has applied for an initial public offering on the Shanghai Stock Exchange's Sci-Tech innovation board. At the market open the stock was up 5%.

The company plans to issue 2 billion shares which represent 20% of the 10 billion outstanding shares. The proposed pricing of the shares for the IPO is RMB5.00 per share which amounts to RMB10.00 billion. The IPO is expected to take place on January 17.

The stock is currently trading at $46.61, up $0.56 or 1.22% since the previous close at $46.05. At the market opening, the stock was at $48.55.

The stock has ranged from $28.39 to $76.53 in the 52-week period.

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