Fidelity Int'l raises stake in BYD

Published: 05 Nov 2009 01:08:10 PST

More From ChinaKnowledge.com

Nov. 5, 2009 (China Knowledge) - U.S.-based investment company Fidelity International Ltd on Oct. 30 raised its shareholding in China's BYD Co<1211> to 5.04% from the previous 4.98%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from the HKEx showed that FIL bought 464,500 shares of Shenzhen-based BYD on Friday for a total of US$4.38 million. The average price of the share transaction was US$9.42 apiece.

On the same day, FIL's parent, FMR LLC, sold 1.78 million shares of BYD for US$17.57 million at US$9.86 apiece, cutting its stake to 5.96% from the 6.19% it held earlier.

Shares of BYD rose 2.03% to end at HK$73 yesterday.