Chinese PV Industry Brief: JinkoSolar announces Jiangxi Jinko's IPO pricing

Solar giant JinkoSolar yesterday announced it will offer up the 2 billion shares which will constitute the initial public offering of its Jinko Solar Co Ltd main business unit on the Shanghai Stock Exchange for RMB5 (US$0.785) per share to raise a gross RMB10 billion (US$1.57 billion). Some 600,000 shares will be directly placed with "cornerstone investors," including eight public bodies, two entities which appear to be municipal-owned organizations, and the China Insurance Investment Fund, as well as the Jiangxi Jinko Asset Management Plans funded by the floated business' management team and "core employees." With 20% of the company's stock…