JinkoSolar Holding on Friday morning Hong Kong time managed to price its US initial public offering at the bottom of its indicated range despite the continuing volatility in global equity markets amid a new round of concerns over the debt situation in Europe.
The deal was small at just $64.2 million, which posed another challenge in an environment in which investors are concerned about liquidity, but a cheap valuation relative to its larger comps enabled the firm to win enough investors over to complete the transaction. Having priced within the original range -- contrary to many other issuers in recent weeks that have reduced their ranges before getting their US IPOs out the...
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