Capital Group cuts stake in Anhui Conch Cement to 5.7%

Capital Group cuts stake in Anhui Conch Cement to 5.7%
Published: 25 August 2009

Capital Group Companies Inc recently cut its shareholding in Anhui Conch Cement Co Ltd to 5.7% from the previous 6.04%, according to the bourse operator Hong Kong Exchanges and Clearing.

HKEx said Capital Group on Aug. 18 sold 1.49 million H shares of the Chinese cement producer for HK$73.57 million.

Anhui Conch Cement week said its net profit was RMB 1.28 billion in the first half of this year, down 2% year on year. H shares of Anhui Conch Cement dropped 2.01% to end at HK$53.65 yesterday.