Why Shares of JinkoSolar Holding Popped 13.3% Today
Shares of solar energy stock JinkoSolar Holding Co (NYSE: JKS) jumped as much as 13.3% in trading on Wednesday after the company announced that one of its subsidiaries completed an IPO in Shanghai. Shares fell slightly later in the day but are still up 7.5% at 1:20 p.m. ET.
Jinko Solar Co., or Jiangxi Jinko, completed an IPO on the Shanghai Stock Exchange that issued 2 billion shares at RMB 5.00, or $0.79, for a total of $1.58 billion. But after the first day of trading shares had jumped 111%, causing the increase in JinkoSolar Holding today.
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Source Fool.com
