Xinyi Glass closes private placement

June 17, 2009 | BY

clpstaff &clp articles

China-based glass manufacturer Xinyi Glass has closed a 'top-up' placement and a private placement, the combined total value of which is US$125 million.China…

China-based glass manufacturer Xinyi Glass has closed a 'top-up' placement and a private placement, the combined total value of which is US$125 million.

China International Capital Corporation Hong Kong Securities (CICC) and Citigroup Global Markets Asia acted as joint placing agents on the placements, which included a 'top-up' of 90,000,000 shares and a private placement of 80,000,000 shares by Xinyi Glass' controlling shareholders.

Fried Frank Harris Shriver & Jacobson (in association with Huen Wong & Co) acted as US and Hong Kong counsel to the joint placing agents, with corporate partners Joseph Lee and Joshua Wechsler leading its team. Squire Sanders & Dempsey acted as US and Hong Kong counsel to Xinyi Glass.

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