China Glass Holdings
China Glass Holdings Ltd (HK:3300) originated through the reorganisation of Jiangsu Glass Group, and was listed on the HKSE in June 2005. China Glass has 14 glass production lines with a daily capacity of 4,780 tonnes. China Glass has six production bases in Beijing, Jiangsu, Shandong, Shaanxi and Inner Mongolia.
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China Glass surges on new share plan
Glass manufacturer China Glass Holdings (HK:3300) announced on Thursday that it plans to sell a total of 46.33m new shares to senior management staff. These shares represent 11.14 percent of the company’s current share capital and will constitute 10.02 percent after the placing. 72.89 percent of the new shares will be purchased by 12 senior management staff, according to the plan.
The shares will be priced at HK$0.53 each, the average closing price per share for the thirty trading days ending 19 March 2009. Shares in the company closed at HK$0.51 yesterday.
The placing is conditional on approval by the shareholders’ special general meeting, the Committee of the Stock Exchange and China’s State Administration of Foreign Exchange.
Shares in China Glass surged 15.69 percent to HK$0.59.
