HK-listed Xinyi Solar falls on $343 mln discounted share sale

Xinyi Solar Holdings

03/09/2020 03:04

** HK-listed shares of Chinese solar glassmaker Xinyi Solar
Holdings Ltd  0968.HK  fall 6.7% to HK$9.57, their lowest since
Aug. 28
    ** Stock later trades 5.7% lower, heading for the worst day
since July 22; stock also set to snap three-session gain 
    ** Firm plans sale of HK$2.66 bln ($343.2 mln) shares at a
discount
    ** Co plans sale of 282 mln shares, or 3.34% of the enlarged
share capital, to third party investors raising proceeds to fund
expansion of solar glass production capacity and for working
capital  urn:newsml:reuters.com:*:nFWN2FZ0MC
    ** The new shares will be issued at HK$9.44 apiece,
representing an 8% discount to Wednesday's close of HK$10.26
    ** Citigroup Global Market Ltd is the placing agent
    ** The Hang Seng China enterprises index  .HSCE  edges down
0.1%, and the benchmark index  .HSI  slides 0.3% 
($1 = 7.7502 Hong Kong dollars)

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