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Schroder HK raises stake in China National Building Material

Post Time:Feb 17,2009Classify:Company NewsView:373

Schroder Investment Management (Hong Kong) Ltd (SIMHK), a subsidiary of the leading international asset management group Schroders plc, has raised its holdings in China National Building Material Co Ltd (CNBM)<3323> to 7.76% from the previous 5.98%, sources reported.

According to statistics from the Hong Kong Stock Exchange (HKEx), on Feb. 6, SIMHK has purchased 16.05 million shares in the Chinese cement maker at an average price of HK$7.85 apiece.

Recently, China Construction Bank Corp (CCB)<601939><939>, one of the country's Big Four state-owned commercial banks, extended RMB 10.8 billion (US$1.6 billion) credit line to CNBM, according to China Knowledge's earlier report.

Shares of CNBM, the second largest cement manufacturer in the country, swelled 6.47% to close at HK$9.55 on Monday.

Source: China KnowledgeAuthor: shangyi

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