(Bloomberg) Shares of solar giant Jinko Solar Co. rose more than 111% as it marked its first day of trading following a listing in Shanghai.
Jinko shares jumped up to 11.95 yuan per share or $1.89 to take the company’s market cap to around $16.7 billion. The market value compares to only $1.9 billion for the US-listed depository receipts of JinkoSolar Holding Co.
The surge in Jinko shares happens when Chinese investors see opportunities in the solar sector, with the country leading globally in the production and installation of panels.
Overseas investors are still cautious of Jinko, given the trade and political disputes between the US and China.
Jinko’s gains are the most in a debut since October 2020 in mainland China listing. Investors now turn attention to Canadian Solar Inc., which is eyeing the mainland China market after earning a listing approval in Shanghai.
688223: CH is up +111.0%.
