Huaxin Cement Company, China has announced that its foreign shareholder Gaoling Fund, bought an additional 155,300 US dollar denominated B shares or a 0.04% stake in the company through the trading platform of the Shanghai Stock Exchange on December 28.
After the deal, Gaoling Fund lifted its ownership in Huaxin Cement to 5.01% or 20.220347 million shares from 4.97%, according to the Wuhan-based cement and concrete maker.
Gaoling Fund said that it intended to continue the share purchase in the following 12 months, describing the purchase as a normal investment. The fund bought a total of 2.0239 million shares in Huaxin Cement at USD 2.0357-2.7386 each from June 28 to December 27.
Gaoling Fund is an Asia focused fund managed by Hillhouse. Hillhouse manages capital for world-class institutional investors, concentrating on making equity investments over a long term investment horizon. As at late-2010, Hillhouse has approximately US$4 billion (HK$31.2 billion) in invested and committed capital under management.