Xinyi Glass Holdings, China“s largest exporter of auto glass, has set the price of its initial public offering in Hong Kong at HKD 2 a share, near the top-end of an earlier set indicative price range…
Xinyi Glass Holdings, China“s largest exporter of auto glass, has set the price of its initial public offering in Hong Kong at HKD 2 a share, near the top-end of an earlier set indicative price range of HKD 1.41-2.04, according to a source. Based on the offer price, the company could raise up to HKD 750 million from the offering, the source said. The company offered 375 million shares to both retail investors and institutions. The source said the retail tranche was 56 times oversubscribed while the international offer was also oversubscribed. Xinyi was scheduled to list on the main board of the Hong Kong stock exchange on 3 February 2005. (USD 1 = HKD 7.8)