DnB NOR cuts stake in Chongqing Machinery
Published: 07 Sep 2009 21:38:35 PSTSep. 8, 2009 (China Knowledge) - DnB NOR Asset Management (Asia) Ltd, an arm of Norway's largest financial services group, DnB NOR ASA, on Sep. 1 cut its stake in Chongqing Machinery & Electronics Co<2722> to 7.69% from the previous 8.03%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>. Information from HKEx showed that DnB NOR last Tuesday sold 3.78 million shares of Chongqing Machinery for HK$5.21 million. The average share price of the transaction was HK$1.38 apiece. On Aug. 4, DnB NOR bought 5 million shares of Chongqing Machinery for HK$7.74 million at an average share price of HK$1.55 apiece, raising its shareholding in the Chinese company to 8.22% from the 7.76% it held earlier. Shares of Chongqing Machinery gained 2.8% to close at HK$1.47 yesterday. Copyright © 2009 www.chinaknowledge.com |
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