Xinyi Automobile Glass Company to raise up to US$700 million in HK IPO next year, IFR reports

Xinyi Glass’ (0868) unit Xinyi Automobile Glass Company is planning to raise between US$600 million (HK$4.68 billion) and US$700 million in a Hong Kong listing next year, IFR reported, citing people familiar with the matter.

Xinyi Glass announced at the end of August that Xinyi Automotive Glass has submitted a listing application to Hong Kong Exchanges and Clearing (0388), seeking approval to list and trade its shares on the Main Board.

Xinyi's automotive glass business has nearly 40 years of operating history and is one of the group's three major businesses. By revenue, it ranks first globally in the aftermarket automotive glass products market.
 

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