Conch Cement’s Share sales application rejected

Conch Cement’s Share sales application rejected
Published: 30 August 2007

Anhui Conch Cement Co said  its application for share sales to MS Asia Investment Limited and  International Finance Corporation was rejected by the State Development and Reform Committee and the Ministry of Commerce.  
 
The cement maker signed agreements with the two strategic investors on December 28, 2005 and meant to transfer 132 and 48 million shares to them.  
 
At present, Hailuo Group, the parent company of Anhui Conch Cement, is holding 645 million shares, or 41.19% stake in the listed company.