First Solar IPO in many a Month Emerges; JinkoSolar Holding Co., Ltd
Solar Stocks Commentary from J. Peter Lynch
Point Roberts, South Salem, New York - May 18 2010 (Investorideas.com renewable energy/green newswire) Investorideas.com solar columnist J. Peter Lynch reports on recent IPO activity in the solar sector.
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First Solar IPO in many a Month Emerges
JinkoSolar Holding Co., Ltd. (JKS) initial public offering of 5,835,000 American depositary shares ("ADSs"), each representing four (4) ordinary shares of the Company, was priced at $11.00 per ADS on Friday of last week.
The IPO raised the company roughly $60 million gross, with a post money market cap of approximately $240 million.
For detailed information and financials refer to link below:
Credit Suisse Securities (USA) LLC acted as sole global coordinator and sole book runner, and Oppenheimer & Co. Inc., Roth Capital Partners, LLC, and Collins Stewart LLC acted as co-managers for this offering.
Jinko Solar is a vertically integrated company – which means they are involved in ALL steps of the manufacturing process: from raw silicon, to molded silicon ingot, to silicon wafer, to solar cell and final integration into panels.
By integrating all phases of the production, the company will have the opportunity to better balance each phase’s margins which may result in overall higher gross margins and greater profits. At the current time the overwhelming majority of solar stocks are underperforming the general market and have been doing so for quite awhile. The technically strongest solar stocks currently are: JA Solar Holdings (JASO), Real Goods Solar, Inc. (RSOL) and ReneSola, Ltd. (SOL). It is interesting to note that 2 of the 3 are vertically integrated Chinese companies (JASO and SOL) similar to JinkoSolar and one is a U.S integrator (RSOL) that may be benefiting from current lower panel prices.
Mr. Lynch has worked, for 33 years as a Wall Street security analyst, an independent security analyst and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy sector since 1977 and is regarded as an expert in this field. He was the contributing editor for 17 years to the Photovoltaic Insider Report, an early publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world. He is currently a private investor and has from time to time been a financial/technology consultant to a number of companies. He can be reached via e-mail at: firstname.lastname@example.org. Please visit his website for the promotion of solar energy - www.sunseries.net.
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