Money

Central Huijin to continue increasing stake in CCB

(Xinhua)
Updated: 2010-10-13 09:46

HONG KONG - Central Huijin Investment Ltd, an arm of China's sovereign wealth fund, has finished the first round of increasing stake in China Construction Bank (CCB) and it intended to continue increasing its CCB shareholdings, said the bank on Oct 12.

In a statement filed with the Hong Kong stock exchange, the Shanghai- and Hong Kong-list lender said Central Huijin could continue buying CCB shares on the secondary market in the following 12 months.

Related readings:  Huijin to inject 88b yuan in Exim Bank, Sinosure  Huijin to sell $27.6b of bonds in first ever debt sale  CCB sees little impact from real estate fall  CCB to hire 6 banks to manage rights offer: rpt

Central Huijin is the controlling shareholder of CCB and another two major State-owned banks -- Industrial and Commercial Bank of China and Bank of China.

According to CCB's statement, Huijin increased its shareholdings in CCB by 16,139,217 A-shares through the trading system of the Shanghai Stock Exchange, representing approximately 0.01 percent of the total issued share capital of the bank.

Upon completion of the shareholdings increase plan in the past year, Huijin held 133.41 billion CCB shares, including 144.7 million A-shares and 133.26 billion H-shares, representing about 57.09 percent of the total issued share capital in the CCB.