The Capital Group buys 834,000 China Shenhua H shares

Oct. 13, 2009 (China Knowledge) - The Capital Group Companies Inc, one of the world's largest investment management organizations, recently raised its shareholding in China Shenhua Energy Co Ltd<601088><1088> to 5% from the previous 4.98%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from HKEx showed that The Capital Group on Oct. 6 bought 834,000 H shares of Shenhua for HK$27.9 million. The average share price of the transaction was HK$33.46 apiece.

On Oct. 2, The Capital Group cut its shareholding in China's Shenhua to 4.98% from the previous 5.12%, selling 4.81 million H shares of the Chinese company at a share price of up to HK$32.62 apiece.

China Shenhua Energy is the largest coal mining state-owned enterprise in mainland China, and the second-largest coal mining enterprise in the world, just after the Peabody Energy Corp in the U.S.

H shares of China Shenhua declined 2.72% to end at HK$33.95 yesterday.