Fuyao Glass sets price range for HK listing

The Chinese auto glass manufacturer is set to offer a chunky discount to its A shares thanks to a widening valuation gap between the Hong Kong and Chinese stock markets.

Fuyao Glass sets price range for HK listing

Fuyao Glass begins bookbuilding this Wednesday for a HK$6.5 billion to HK$7.39 billion $839 million to $951 million dual listing that is on target to beat Hong Kong Broadband Network's recent $750 million deal as the territory's largest initial public offering so far this year.

Fund managers say the 440 million primary share deal will be marketed at HK$14.80 to HK$16.80 per share. Based on Monday's closing price of Rmb15.02, that...

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