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.