Chinese solar firm JinkoSolar Holding Co (NYSE: JKS) made its debut on the New York Stock Exchange Friday, garnering what is being called a "lukewarm" reception.
The company raised $64.3 million, selling 5.84 American depositary shards (ADS) for $11 each–the low end of its price range.
Trading remained flat throughout the day and into Monday morning.
The company, which makes silicon wafers, cells and solar modules cancelled, signed a strategic cooperation agreement in September 2009 with Upsolar to sell JinkoSolar modules in North America over the next three years, with a general volume of 175 megawatts (MW). The company also has customers in China, Hong Kong, France, India, Germany and Spain.
JinkoSolar’s management expects production capacity to reach 500 MW by the end of the year–up from 200 MW in March–according to a Reuters report.
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