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Xinyi Glass Holdings Ltd Announces Proposed Spin-off And Separate Listing By Way Of Introduction Of Xinyi Solar Holdings Limited On Main Board Of Stock Exchange Of Hong Kong Limited


Wednesday, 20 Nov 2013 07:01pm EST 

Xinyi Glass Holdings Ltd announced the proposed spin-off and separate listing by way of introduction of Xinyi Solar Holdings Ltd on the main board of the Stock Exchange of Hong Kong Limited. As of the date of this announcement, Xinyi Solar is a wholly-owned subsidiary of the Company and the principal business activities of Xinyi Solar Group focus on the production and sales of solar glass and related products. Immediately after completion of the Proposed Spin-Off and the Separate Listing, Xinyi Solar will cease to be a subsidiary of the Company, but an associate of the Company. The Company, through its wholly-owned subsidiaries, namely Xinyi Glass (BVI) and Xinyi Glass (Hong Kong), is expected to continue to be the single largest shareholder of Xinyi Solar, holding approximately 31.2% of the number of Xinyi Solar Shares in issue immediately after the Proposed Spin-Off and the Separate Listing on the basis of 3,921,290,699 Xinyi Glass Shares in issue as of the Xinyi Glass Distribution Record Date. The Group will continue to be engaged in the production and sales of float glass, automobile glass, ultra thin electronic glass and energy-saving construction glass and related glass products after completion of the Proposed Spin-Off and the Separate Listing. 

Company Quote

4.68
-0.03 -0.64%
3:59am EDT