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

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

See more news about:

Others also read

Madico®, Inc. Acquires Midwest Marketing’s Distribution Business
Madico, Inc., one of the world’s leading manufacturers of a broad range of materials-based solutions, announced its acquisition of the window film distribution business of Midwest Marketing, Inc.
LandGlass Cyclone Glass Tempering Furnace unveiled - video
Superior glass tempering furnace to produce high quality tempered glass with less energy consumption.
Eastman Celebrates Partnership with Hendrick Motorsports' No. 88 Race Team with LLumar® Branded Celebration on 8/8
Eastman is launching an annual celebration over the course of its partnership with the No. 88 team on August 8, 2018 (8/8).
LandGlass Unveils a New Chapter in the Global Development of Vacuum Insulated Glass
The First International Technical Seminar on Vacuum Insulated Glass was held in Qingdao, China.
LandGlass Is Going to Attend GlassBuild America 2018
LandGlass will showcase a full series of flat and bent glass tempering technological solutions and their highly anticipated LandVac tempered Vacuum Insulated Glass.
Guardian Automotive investing in calibration, customer service, quality and convenience. | Photo Guardian Industries Corp.
Guardian Automotive, a European supplier of automotive replacement glass, will use its presence at Automechanika 2018 to highlight its value proposition.

From industry

No. 160 Yichuan Rd.,
Jiaonan Shi
Qingdao Shi
Shandong Sheng, 266000

Portuetxe bidea 18
20018 San Sebastián (Gipuzkoa) Guipúzcoa

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

Add new comment