May 16 (Renewables Now) - Chinese solar module maker JinkoSolar Holding Co Ltd (NYSE:JKS) has priced its recently unveiled offerings of American depositary shares (ADSs) and up to USD 85 million (EUR 75.8m) worth of convertible senior notes.
The company will sell 4.06 million ADSs at USD 16 per unit, it said on Tuesday. Each of the offered ADSs represents four ordinary shares at a par value of US 0.00002 apiece. The underwriters of the offering have been given a 30-day option to buy up to 609,375 of additional ADSs to cover over-allotments.
In a separate transaction among non-US parties, JunkoSolar is selling up to USD 85 million of 2024 convertible senior notes.
The two transactions are not contingent on one another’s closing, while both of them are subject to customary closing conditions and are expected to be completed on May 17.
Credit Suisse Securities (USA) LLC and Barclays Capital Inc have been hired as joint bookrunners for the ADS sale, where Roth Capital Partners LLC is acting as co-manger. The Chinese firm has mandated Credit Suisse Hong Kong Ltd as placement agent for the notes sale.
(USD 1.0 = EUR 0.892)