Zheijiang Plant Faces Delay

Zheijiang Glass, the second largest Hong Kong-listed mainland glassmaker by market value, will probably postpone its 920M Yuan investment in ultra-thick and low-emissivity coated glass production lines, first mooted early this year. This follows the delay of its 1.5BN Yuan maiden A-share offering after mainland authorities put the brakes on fresh issues in an effort to help domestic bourses absorb substantial quantities of nontradeable stocks. "The A-share offering, which was originally to be completed by the third quarter this year, is unlikely to go ahead this year," the Chairman of Zheijiang Glass told Hong Kong news media during a plant visit organised by the firm.