What happened Shares of solar energy stock JinkoSolar Holding Co (NYSE: JKS) jumped as much as 13.3% in trading on Wednesday after the company announced that one of its subsidiaries completed an IPO in Shanghai. Shares fell slightly later in the day but are still up 7.5% at 1:20 p.m. ET. So what Jinko Solar Co., or Jiangxi Jinko, completed an IPO on the Shanghai Stock Exchange that issued 2 billion shares at RMB 5.00, or $0.79, for a total of $1.58 billion. But after the first day of trading shares had jumped 111%, causing the increase in JinkoSolar Holding today. Image source: Getty Images. This is the latest solar company to spin off manufacturing assets, which have been difficult to make money on long-term. Manufacturing is competitive and requires billions of dollars in investment to build scale, which is why a company like JinkoSolar may want to focus on power plant development at a corporate level. Now what The market's reaction to Jiangxi Jinko is what's exciting investors today and could give JinkoSolar flexibility. The company could fully monetize its 58.62% stake in Jiangxi Jinko and return capital to shareholders, which may be appealing given JinkoSolar's current $2.1 billion market cap. No matter the decision, a successful IPO is welcome news for a struggling solar market today. 10 stocks we like better than JinkoSolar Holding CompanyWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and JinkoSolar Holding Company wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of January 10, 2022 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source