Zhejiang Glass selling $48 million of shares

HONG KONG, May 22 (Reuters) - Zhejiang Glass Co Ltd (0739.HK) was selling as much as $48 million worth of shares at a 7.8 percent to 14.2 percent discount to the firm's closing price on Wednesday, according to a document sent to investors on Thursday.

The company was selling 57.7 million H-shares, or 18 percent of its existing H-share capital, at a price range of HK$6.05 to HK$6.50 per share, in a deal handled by Cazenove Asia.

The firm has an option to increase the size to 64.2 million H-shares, or 20 percent of existing H-share capital, the document said.

(US$1=HK$7.8)

(Reporting by Tony Munroe and Kennix Chim; editing by Anne Marie Roantree)