Fortis Investment cuts stake in Yanzhou Coal
Published: 01 Jul 2009 01:28:36 PST
Jul. 1, 2009 (China Knowledge) - Fortis Investment Management SA, the global asset-management arm of Belgian-Dutch Fortis Group, has reduced its H-share holding in Yanzhou Coal Mining Co Ltd<600188><1171><YZC> to 4.96% from the previous 5.02%, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<0388>. The HKEx said that Fortis Investment on Jun. 29 sold around 1.09 million H-shares of Yanzhou Coal, China's third largest coal producer by market value, for HK$11.01 million. The average share price of the transaction was HK$10.123 apiece. Yanzhou Coal earlier reported that its net profit plunged 48.5% year on year to RMB 831.42 million in the first quarter of 2009, according to an earlier report from China Knowledge. Copyright © 2009 www.chinaknowledge.com |
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