Zhejiang Glass selling $48 million of shares

Zhejiang Glass Co Ltd  was selling as much as $48 million worth of shares at a 7.8 percent to 14.2 percent discount to the firm´s closing price on Wednesday, according to a document sent to investors on Thursday.

The company was selling 57.7 million H-shares, or 18 percent of its existing H-share capital, at a price range of HK$6.05 to HK$6.50 per share, in a deal handled by Cazenove Asia.

The firm has an option to increase the size to 64.2 million H-shares, or 20 percent of existing H-share capital, the document said.

(US$1=HK$7.8)