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J.P. Morgan appointed depositary bank by JinkoSolar

J.P. Morgan has been appointed depositary bank by JinkoSolar, a China-based solar product manufacturer, in connection with its recent initial public offering on the New York Stock Exchange.

JinkoSolar raised USD64.2m through issuance of 5,835,000 American depositary shares, with each ADS representing four ordinary shares in its initial public offering. 

Each American depositary receipt was priced at USD11.00.  
 
“Through this ADR programme, we intend to further increase our visibility within the US investor community,” says 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, adds: “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 programme and developing a long-term relationship with the firm."
 
J.P. Morgan launched the first depositary receipt programme in Asia in 1961 for Sony and serves as depositary bank for companies throughout the region.

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