Hong Kong, June 30, 2010 - J.P. Morgan announced today that it has been appointed depositary bank by JinkoSolar Holdings Co., Ltd. ("JinkoSolar"), a China-based solar product manufacturer, in connection with its recent initial public offering on the New York Stock Exchange.
JinkoSolar raised USD 64.2 million through issuance of 5,835,000 American Depositary Shares (ADS), with each ADS representing four ordinary shares in its initial public offering. Each American Depositary Receipt (ADR) was priced at USD 11.00.
"Through this ADR program, we intend to further increase our visibility within the US investor community," said Chen Kangping, chief executive officer of JinkoSolar. "J.P. Morgan's DR team has been extremely professional and responsive to our needs throughout the entire process. We have every confidence in the bank to help us deliver value to our shareholders."
Kenneth Tse, Asia Pacific head of J.P. Morgan's depositary receipts group added: "We are extremely pleased that we have been appointed by JinkoSolar as its depositary bank. This appointment further demonstrates our leadership position in the ADR arena. We look forward to supporting JinkoSolar in all aspects of their ADR program and developing a long-term relationship with the firm."
J.P. Morgan is committed to working closely with its clients to design and implement customised depositary receipt ('DR') programs to achieve their strategic goals and facilitate DR liquidity.
J.P. Morgan launched the first depositary receipt program in Asia in 1961 for Sony and serves as depositary bank for leading companies throughout the region. J.P. Morgan provides a full range of American Depositary Receipt ('ADR') and Global Depositary Receipt ('GDR') services to issuers seeking to have their equity traded on exchanges beyond their home markets.
For market information on depositary receipts and international equities, please visit J.P. Morgan's award-winning web site www.adr.com.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $6.5 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. In Asia Pacific, J.P. Morgan operates through 26 offices in 15 countries and has developed its wholesale banking franchise during a history of almost 160 years in the region. More information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
JinkoSolar Holding Co., Ltd. (NYSE:JKS) is a fast-growing solar product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar's principal products are silicon wafers, solar cells and solar modules. As of December 31, 2009, JinkoSolar had an aggregate of more than 440 silicon wafer, solar cell and solar module customers from China, Hong Kong, Taiwan, the Netherlands, Germany, the United States, India, Belgium, Singapore, Korea, France, Spain and Israel and other countries or regions. For more information about JinkoSolar, please visit http://www.jinkosolar.com .