Zhejiang Glass to raise HK$388 mln from new share offering

Zhejiang Glass Co Ltd., a Hong Kong-listed mainland glass maker, said on Friday that it aimed to raise up to HK$388 million through new share offering, the firm said in a statement filed to the Hong Kong Stock Exchange today.

The company was selling as much as 64.2 million new shares at HK$6.05 apiece, accounting for 8.17% of its enlarged share capital. The offering price represents a 14.18% discount to its closing price on Wednesday which stood at HK$7.05.

Excluding costs, net proceeds are estimated at HK$382 million, which will be used to replenish operating capital and boost glass production.

Its shares have resumed trading today.

Click on the link bellow to read the entire article.

600450 Zhejiang Glass to raise HK$388 mln from new share offering glassonweb.com
Date: 27 May 2008
Source: Chinaknowledge

See more news about:

See more from these topics:

Others also read

LandGlass is going to attend FC 2016 to share its cutting-edge LandVac tempered vacuum insulated glass with the professionals in the glass industry.
For the first time, LandGlass presented both of its core products.
AluK will showcase its superior, top-level products, and share its expertise in the field of windows and doors.
China Ginza Tokyo is a luxurious and unique building expressing the spirit of Chanel through a façade generating images and acting as lighting for the building.
Moen Glass PTY LTD, based in Victoria, Australia, was incorporated in 1984. It is a family owned manufacturing company, dedicated to servicing the glass and window industries throughout Australia.
China’s largest glass manufacturer is planning to raise its investment in Malaysia by 100% to US$400mil (RM1.6bil) and to set up its overseas headquarters in Kuala Lumpur, group chairman Ge Wenyao told visiting Malaysian minister Datuk Seri Ong Ka Chuan.

From industry

Add new comment