Xinyi Solar Said to Plan a $300 Million Hong Kong Initial Offer
Xinyi Solar Holdings Ltd., the solar glass unit of Xinyi Glass Holdings Ltd. (868), is preparing an initial public offering in Hong Kong that may raise about $300 million, two people with knowledge of the matter said.
The maker of raw and processed ultra-clear photovoltaic glass aims to start trading in the fourth quarter, said the people, who declined to be identified because the information is private. Citigroup Inc. and JPMorgan Chase & Co. (JPM) will manage the offering, the people said.
Xinyi Solar has submitted a listing application to the Hong Kong stock exchange, Xinyi Glass said in a June 7 filing to the bourse. Spokespeople for Xinyi Glass couldn’t immediately be reached for comment.
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