JinkoSolar to Sell Majority Stake in US Subsidiary to FH Capital
MT Newswires Live
May 08
JinkoSolar (JKS) and FH Capital have signed a deal under which the latter will acquire a 75.1% equity in JinkoSolar's Jinko Solar Industries unit, FH Capital said Friday.
Financial terms weren't disclosed.
FH Capital said JinkoSolar will retain its 24.9% stake in the unit, adding that after closing, it will deploy additional expansion capital to "at least" double the current solar module manufacturing capacity and start local battery energy storage systems production.
Shares of JinkoSolar were up 2.4% in Friday premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.