Fuyao Glass to seek US$700m local listing

Fuyao Glass Industry Group, the world's second largest automotive glass manufacturer by sales in 2013, will seek listing approval from the local bourse today for its proposed float of US$700 million (HK$5.46 billion) to US$800 million, sources said.

Listed in Shanghai since 1993 with shares offered at 1.5 yuan (HK$1.86) apiece, the firm is valued at 29.8 billion yuan in terms of a 14.88 yuan closing price yesterday.See more at: www.thestandard.com.hk/news_detail.aspFuyao Glass Industry Group, the world's second largest automotive glass manufacturer by sales in 2013, will seek listing approval from the local bourse today for its proposed float of US$700 million (HK$5.46 billion) to US$800 million, sources said.   

Listed in Shanghai since 1993 with shares offered at 1.5 yuan (HK$1.86) apiece, the firm is valued at 29.8 billion yuan in terms of a 14.88 yuan closing price yesterday.

See more at: www.thestandard.com.hk/news_detail.asp

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