Hong Kong-listed Xinyi Glass Holdings Ltd said it expects to raise HKD 1.31 billion net from the placement of 175 million shares at HKD 10.32 per share.
The sale will comprise placement and top-up pl…
Hong Kong-listed Xinyi Glass Holdings Ltd said it expects to raise HKD 1.31 billion net from the placement of 175 million shares at HKD 10.32 per share. The sale will comprise placement and top-up placement shares, with their total representing approximately 10.91% of Xinyi“s existing shares, or about 10.10% of the issued shares after completion of the placement and subscription. Joint placement agents Citigroup Global Markets Asia Ltd, Credit Suisse (Hong Kong) Ltd and Morgan Stanley & Co International plc are to place the shares with no fewer than six independent investors. Xinyi said about half the proceeds from the sale will be used to expand the group“s float glass production facilities. About 25% will finance the expansion of the group“s construction and automobile glass production facilities, and the remaining 25% will be used to replenish general working capital, it added.