JPMorgan Chase raises stake in China Shanshui Cement

JPMorgan Chase raises stake in China Shanshui Cement
Published: 12 October 2009

US-based financial holding company JPMorgan Chase & Co recently raised its shareholding in China Shanshui Cement Group Ltd to 5.02% from the previous 4.89%, sources reported.

According to statistics released by the Hong Kong Stock Exchange, on Sep. 25, the U.S. company bought approximately 3.51 million shares of China Shanshui Cement for HK$19.36 million.

The average price of the share transaction was HK$5.52 apiece. JPMorgan Chase recently assigned a rating of "buy" for shares of BOC Hong Kong (Holdings) Ltd the Hong Kong subsidiary of Bank of China, and has set the target price at HK$18.1 per share, China Knowledge reported earlier.