XINYI SOLAR (00968.HK) gets $780M from top-up placement

XINYI GLASS (00868.HK)  -0.040 (-0.870%)    Short selling $26.10M; Ratio 14.518%     and XINYI SOLAR (00968.HK)  +0.050 (+2.336%)    Short selling $35.00M; Ratio 3.306%     jointly announced that Xinyi Glass Holdings Limited agreed to place 380 million Xinyi Solar shares at the placing price of $2.07 per share, then to subscribe the same amount of Xinyi Solar shares at the same price. Placing price of Xinyi Solar represented a 5% discount to the yesterday's (29 July) closing price of $2.18. Placing Shares accounted for 6.25% of the enlarged number of Xinyi Solar Shares in issue.

Net proceeds from the top-up subscription were $779 million, planned to be used as capital expenditure of solar farm projects and general working capital of Xinyi Solar Group.

(Quote is delayed for at least 15 mins.Short Selling Data as at 2014-07-30 16:25.)