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    600660   CNE000000230

FUYAO GLASS INDUSTRY GROUP CO., LTD.

(600660)
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Fuyao Glass Industry Seeks to Raise Over US$500 Million via Share Placement

05/02/2021 | 05:54pm EDT

By P.R. Venkat

Fuyao Glass Industry Group is planning to raise 4.31 billion Hong Kong dollars ($555.13 million) in net proceeds through a share placement to expand its business.

The company is placing a total of 101.13 million H-shares at an issue price of HK$42.90 each, Fuyao said late Sunday.

Shares are being placed a 4.98% discount to the last traded price of HK$45.15 each.

Fuyao said that it "would like to broaden the H-Shareholder base and increase the proportion of H-shares in the company's equity structure, so as to further attract more international reputable investors with strategic value and improve equity structure of the company".

The company said that it expects China's automobile industry to recover and rebound this year and the funds raised will be used to expand its photovoltaic glass business and also repay debt.

UBS AG. is acting as the placement agent for the deal.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

05-02-21 1954ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
FUYAO GLASS INDUSTRY GROUP CO., LTD. 3.20% 48.96 End-of-day quote.1.89%
UBS GROUP AG 0.65% 13.89 Delayed Quote.11.39%
All news about FUYAO GLASS INDUSTRY GROUP CO., LTD.
05/13FUYAO GLASS INDUSTRY  : Proxy Form for Use at the 2020 Annual General Meeting
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05/10FUYAO GLASS INDUSTRY  : Raises Almost $559 Million from Private Placement in Hon..
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05/10FUYAO GLASS INDUSTRY  : Completion of placing of new h shares under specific man..
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05/07FUYAO GLASS INDUSTRY  : Cancellation of annual general meeting and cancellation ..
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05/03FUYAO GLASS INDUSTRY  : to Issue H-shares to Raise Up to $560 Million
MT
05/02Fuyao Glass Industry Seeks to Raise Over US$500 Million via Share Placement
DJ
05/02FUYAO GLASS INDUSTRY  : Placing of new h shares under specific mandate
PU
04/29FUYAO GLASS INDUSTRY  : Approval by the csrc of the application for the proposed..
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04/16FUYAO GLASS INDUSTRY  : Q1 Profit Soars Nealry 86% as Revenue Climbs
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04/15FUYAO GLASS INDUSTRY  : 2021 first quarterly report
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More news
Financials
Sales 2021 23 568 M 3 662 M 3 662 M
Net income 2021 4 061 M 631 M 631 M
Net cash 2021 825 M 128 M 128 M
P/E ratio 2021 31,3x
Yield 2021 1,89%
Capitalization 119 B 18 547 M 18 548 M
EV / Sales 2021 5,03x
EV / Sales 2022 4,41x
Nbr of Employees 25 871
Free-Float 73,0%
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Technical analysis trends FUYAO GLASS INDUSTRY GROUP CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 50,52 CNY
Last Close Price 48,96 CNY
Spread / Highest target 59,3%
Spread / Average Target 3,18%
Spread / Lowest Target -54,0%
EPS Revisions
Managers and Directors
NameTitle
Shu Ye Executive Director & General Manager
Xiang Ming Chen Chief Financial Officer & Director
Zhao Hua Bai Chairman-Supervisory Board
De Wang Cao Chairman
Jie Wen Zhang Independent Director
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