LUOYANG GLASS (01108.HK) Proposes Private Placement of 11.7486M Shares to Raise RMB215M

LUOYANG GLASS (01108.HK)  -0.100 (-2.232%)   announced that it had been approved by China Securities Regulatory Commission for the private placement of 11.7486 million A shares to substantial shareholder China Luoyang Float Glass (Group) at an issue price of RMB18.3 per share, raising a total amount of RMB215 million.

RMB90.7297 million would be used to settle the cash consideration of the replacement assets for the balances of China Luoyang Float Glass (Group) and the remaining amount would used for replenishment of working capital etc.
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