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FT: Zhejiang Glass goes public
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Zhejiang Glass Company Limited, the largest privately owned flat glass manufacturer in Zhejiang Province and the fifth in the Chinese mainland, announced the issue of 170 million new H-shares in Hong Kong on November 28.
This is the first private company in the Chinese mainland that goes public in Hong Kong stock exchange's mainboard (the stock code is SEHK:0739).
About HK$503 million (US$64.5 million) will be raised at HK$2.96 HK (US$0.38) per H-share. Dealings in the shares are expected to commence on December 10, 2001 on the mainboard.
Established in 1994, Zhejiang Glass mainly manufactures float flat glass products used in the construction and automotive industries.
Feng Guangcheng, chairman and general manager of the company, said at a press conference that the rapid growth of China's economy, especially after its accession to the WTO, will greatly boost the development of the construction and automotive industries, thus creating a favorable business environment for the glass products market.
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November 30th, 2001
Source: FT |
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