Xinyi Glass closes private placement

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.