HK-listed China Glass rises most in 4 months on production expansion deal

China Glass Holdings

07/05/2021 06:01

** Shares of China Glass Holdings Ltd  3300.HK  surge as
much as 16.3% to HK$0.93, their highest since Feb. 22 
    ** Stock last up 15%, on course for the best day since Jan.
4; the eighth biggest percentage gainer on the Hong Kong bourse
    ** Glass producer says its unit will buy a 55% stake in
Fujian Longtai Industries Co Ltd for 262.47 mln yuan ($40.64
mln), a deal that can increase its production capacity, enhance
its presence in south-eastern China, and acquire control of a
high-end construction glass production line  urn:newsml:reuters.com:*:nFWN2MT1NQ
    ** Says Fujian Longtai is in the process of establishing a
technology industrial park focusing on new energy development,
and is constructing an automotive glass production line
scheduled to complete within 2021
    ** The Hang Seng China enterprises index  .HSCE  gains 0.2%,
and the benchmark index  .HSI  climbs 0.5%
    ** As of last close, the stock had fallen 11.1% this year


($1 = 6.4586 Chinese yuan renminbi)

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))