SHANGHAI Yaohua Pilkington Glass yesterday began an international placement for its 100 million new B shares, with the issue price set at the upper end of the tentative price range of 72 US cents a share.
The issue, to raise US$72 million, follows that of Shanghai Haixin Co, whose $24.5 million B-share offer started on Tuesday and coincides with Shanghai Diesel Engine Co's B-share roadshow in Hong Kong yesterday.
The underwriting agreement on Yaohua's 100 million new B shares or 25.64 per cent of the enlarged share capital was signed on Tuesday night.
International placement for both Yaohua's 100 million B shares and the 35 million B shares of the plush-materials maker Haixin is scheduled to be completed on Saturday.
The diesel-engine producer is due to place its 100 million new B shares in mid-December, according to its preliminary information memorandum dated last Friday.
B-share trading in Haixin is expected on or before December 10, Yaohua on or before December 15, and Diesel Engine in January. All are subject to the exchange's schedule.