China's Fuyao Glass plans 3 bln yuan-plus shr sale

Date: 26 February 2008
Source: Reuters
Fuyao Group Glass Industries Co Ltd (600660.SS: Quote, Profile, Research), China's top automotive glass maker, said on Monday it plans to raise more than 3 billion yuan ($420 million) by selling additional shares to fund expansion.

Fuyao Glass plans to sell 100 million yuan-denominated A shares, equal to 10 percent of its current share capital, the company said in a statement to the Shanghai Stock Exchange.

The share sale, which is subject to shareholder approval, would raise about 3.6 billion yuan, based on Fuyao Glass's last share price of 36.97 yuan. The actual figure will be based on the average price during the 20 trading days prior to the release of the share sale document.

The shares were suspended from trade on Monday morning due to the announcement.

600450 China's Fuyao Glass plans 3 bln yuan-plus shr sale
Date: 26 February 2008
Source: Reuters

See more news about:

See more from these topics:

Others also read

Saint-Gobain has just completed the acquisition of France Pare-Brise, which has the second largest franchise network in France on the automotive glass repair and replacement market.
LandGlass is going to attend FC 2016 to share its cutting-edge LandVac tempered vacuum insulated glass with the professionals in the glass industry.
For the first time, LandGlass presented both of its core products.
AluK will showcase its superior, top-level products, and share its expertise in the field of windows and doors.
Nippon Sheet Glass Co., Ltd. will install a new high-performance press bending line at the Maizuru plant (Kyoto, Japan) for automotive windshields, applying its proprietary technologies.
China Ginza Tokyo is a luxurious and unique building expressing the spirit of Chanel through a façade generating images and acting as lighting for the building.

From industry

Portuetxe bidea 18
20018 San Sebastián (Gipuzkoa) Guipúzcoa

Is Kuleleri, Kule: 2, Kat: 22, 4. Levent
34330 Levent-Istanbul/

Add new comment