Xinyi Glass shareholder selling $111 mln in stock

The controling shareholder in China's Xinyi Glass Holdings Co Ltd (0868.HK) is selling up to $111.3 million worth of shares in the company at a discount of 1.3 to 7.6 percent to its last closing price, according to a term sheet.

Full Guang Holdings was selling 140 million shares, of which 90 million were new sahres and the remainder existing shares, at HK$5.80-HK$6.20 each in a deal handled by Citigroup (C.N) and China International Capital Corp (CICC).

The company's shares rose 2.11 percent to close at HK$6.28 on Tuesday. (US$=HK$7.8)