GE Asset raises stake in China South Locomotive to 7.02%

Published: 06 Oct 2009 19:48:10 PST

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Oct. 7, 2009 (China Knowledge) - GE Asset Management Inc, a wholly-owned subsidiary of General Electric Co, recently raised its H-share holding in China South Locomotive & Rolling Stock Co Ltd<601766><1766> to 7.02% from the previous 6.77%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from HKEx showed that GE Asset on Sep. 25 bought 5 million H shares of the Chinese firm, the country's largest manufacturer of rail vehicles, for a total of HK$22.52 million. The average share price of the transaction was HK$4.5.

H shares of China South Locomotive rose 2.7% to close at HK$4.54 on Tuesday.