Latham, Sullivan & Cromwell on Fuyao Glass $953M IPO
The car window maker's initial public offering is the biggest so far this year in Hong Kong.
March 31, 2015 at 12:46 AM
2 minute read
Latham & Watkins and Sullivan & Cromwell had the lead roles on Chinese manufacturer Fuyao Glass Industry Group Co. Ltd.'s $953 million Hong Kong initial public offering, the largest so far this year.
In a prospectus, Fuyao Glass said it is the world's second-largest car window maker with a 72 percent market share in China and a 20 percent market share globally. The company sells its products to car makers including General Motors Co., Audi AG and Mercedes-Benz.
Fuzhou-based Fuyao Glass was listed in Shanghai in 1993. According to the prospectus, Fuyao Glass will use the proceeds from the Hong Kong listing to fund the construction of new production facilities in the U.S. and Russia.
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