Fuyao Glass taps China Merchants, UBS for $500 mln HK offer-IFR

HONG KONG Tue Dec 3, 2013 3:35am EST

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HONG KONG Dec 3 (Reuters) - Shanghai-listed Fuyao Glass Industry Group Co Ltd. plans to raise about $500 million with a Hong Kong share offering in the first half of 2014, IFR reported on Tuesday.

The automotive glass manufacturer has mandated China Merchants Securities and UBS to handle the listing, said IFR, a Thomson Reuters publication.

It plans to use proceeds from the offering to build glass production bases, research and development platforms and to repay loans, among other things.

(Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Matt Driskill)

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