HK-listed glass maker Xinyi Solar falls on discounted share sale

Xinyi Solar Holdings

17/12/2020 02:07

** Shares of Chinese solar glass maker Xinyi Solar Holdings
Ltd  0968.HK  fall as much as 5.2% to HK$13.22, their lowest
since Dec 10
    ** Stock set for worst day since Dec 2; the eighth most
actively traded shares in early trade 
    ** Anhui-based firm plans sale of 300 mln new shares, or
3.41% of the enlarged share capital, to third party investors,
raising HK$3.9 bln ($503.1 mln) for expansion of solar glass
production capacity, solar farm projects, and general working
capital  urn:newsml:reuters.com:*:nFWN2IW10U
    ** Shares will be issued at HK$13 each, or a 6.7% discount
to Wednesday's close of HK$13.94 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.8%
    ** The Hang Seng China enterprises index  .HSCE  edges down
0.01%, and the benchmark index  .HSI  slides 0.1%
    ** As of last close, stock up 152.1% this year 
 
    ($1 = 7.7523 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)