JPMorgan Chase raises stake in Angang Steel

Published: 10 Mar 2009 02:13:48 PST

Mar. 10, 2009 (China Knowledge) - U.S.-based financial holding company JPMorgan Chase & Co has raised its H-share holdings in Angang Steel Co Ltd<000898><347> to 15.39% from the previous 14.72%, market sources reported.

According to statistics released by the Hong Kong Stock Exchange (HKEx), on Mar. 4, the U.S. company bought approximately 7.35 million H-shares in Angang Steel for HK$52.02 million. The average price was HK$7.08 apiece.

JPMorgan purchased around 8.7 million H-shares in Angang Steel last month.

H-shares of the Chinese steel maker fell 1.82% to close at HK$6.48 on Monday.

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