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Xinyi Solar Said to Plan $300 Million Hong Kong Initial Offer

July 20 (Bloomberg) -- Xinyi Solar Holdings Ltd., the solar glass unit of Xinyi Glass Holdings Ltd., 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. 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.

To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net;

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

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