Anhui Chaodong Cement confirms sale

Anhui Chaodong Cement confirms sale
Published: 18 May 2006

Anhui Chaodong Cement Group will sell a 40 per cent stake in listed Anhui Chaodong Cement Co Ltd to Anhui Conch Cement Co Ltd and a 19.7 pct stake to WEALCITY, Anhui Chaodong Cement Co said.  Anhui Chaodong Cement Group is therefore selling its entire 59.7 per cent stake in Anhui Chaodong Cement Co, held in the form of non-tradable state shares, according to a statement by Anhui Chaodong Cement Co to the stock exchange here.   The company did not disclose value of the deal, but said it will issue details later.  Shares in Anhui Chaodong Cement Co surged 40 per cent over the last four trading days, closing at 8.20 yuan yesterday.