JPMorgan raises stake in China National Building Material

U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in China National Building Material Co Ltd (CNBM)<3323> to 25.19% from the previous 24.98%, market sources reported.

According to statistics released by the Hong Kong Stock Exchange (HKEx), on Feb. 11, the U.S. company acquired approximately 1.92 million shares in CNBM for HK$17.03 million. JPMorgan bought the 1.92 million shares at HK$8.85 apiece.

In addition, On Feb. 6, JPMorgan purchased around 31.18 million shares in CNBM at HK$8.69 apiece, lifting its stake in CNBM to 20.78%.

Shares of the Chinese cement maker fell 1.05% to close at HK$9.45 on Tuesday.