Luoyang Glass announces asset swap and private placement plan

Luoyang Glass Co Ltd:To divest its entire stake in five companies and creditor's rights, as well as to issue 29,541,100 shares at 6 yuan per share to China Luoyang Float Glass Group, in exchange for 100 pct stake in a material company.Transaction price valued at 670,154,000 yuan.To issue 33,390,800 shares at 6.69 yuan per share through private placement, to raise up to 223,384,700 yuan for stake acquisition and supplement of working capital.