Fuyao Glass pre-markets Hong Kong IPO

Shanghai-listed glass manufacturer hopes to take advantage of strong momentum in its share price with a dual listing in Hong Kong, which will begin pre-marketing later this week.

Shanghai-listed Fuyao Glass plans to launch pre-marketing later this week for a $700 million to $800 million listing of its shares in Hong Kong. The deal's soft launch was pushed back by a few days on Monday after a slight delay in clearing the final regulatory hurdles.

When it does come, the company hopes to take advantage of its strong domestic performance, which has seen its Shanghai-listed shares soar by 87% in the last 12 months and by around 7% so far this year.

The world's second-largest auto-glass manufacturer is proposing to issue 18% of its enlarged share capital through a 440 million primary share deal via...

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