Glass-maker to sell stake

PUBLISHED : Wednesday, 18 June, 1997, 12:00am
UPDATED : Wednesday, 18 June, 1997, 12:00am

Shenzhen International Holdings will buy 11.33 per cent of Shenzhen-listed A share China Southern Glass indirectly for $284.3 million from holding company Shenzhen Building Materials.


The deal involves an issue of 238.9 million new shares at $1.19 each - a 30.4 per cent discount to the company's close on June 3 when its shares were suspended.