JinkoSolar Holding Co. Ltd., a leading solar-panel manufacturer whose stock trades on the New York Stock Exchange, said Sept. 21 that it may list a subsidiary's shares in China in order to raise more money from investors.

To meet a requirement that companies must have multiple shareholders to trade on the Shanghai Stock Exchange's Science and Technology Innovation Board, JinkoSolar said members of its board and senior management agreed to buy a 26.7% stake in the subsidiary, Jinko Solar Co. Ltd., or Jiangxi Jinko, for about $458 million.

"We believe the listings of JinkoSolar on the New York Stock Exchange and Jiangxi Jinko on the STAR Market will raise our profile with investors both in China and globally and provide us with additional opportunities to grow in the future," said JinkoSolar CEO Kangping Chen in a statement.

The announcement comes as JinkoSolar, which is headquartered in China, ramps up production in an effort to grab market share. It also follows a proposal by the Trump administration in August for Chinese companies to be delisted from U.S. stock exchanges if they fail to abide by U.S. accounting standards. Congress is also considering tightening securities rules for U.S.-listed Chinese companies.

JinkoSolar is at least the third U.S.-listed solar company to pursue a second listing in China in recent months.

Canadian Solar Inc., a panel manufacturer that is headquartered in Ontario but has a large manufacturing presence in China and uses accountants that are based there, said in July that it may sell stock on either the Shanghai Stock Exchange's Science and Technology Innovation Board or the Shenzhen Stock Exchange's ChiNext Market.

China's Daqo New Energy Corp., which produces the raw material polysilicon for the solar industry, is also pursuing a secondary listing in Shanghai. One of Daqo's top customers is JinkoSolar, and Daqo CEO Longgen Zhang sits on JinkoSolar's board of directors, according to the companies' annual reports to the U.S. SEC.

JinkoSolar said it may move forward with a China listing within the next three years, though analysts at Roth Capital Partners LLC think it will happen much sooner.