Anhui Conch Cement gets approval to sell stake

Anhui Conch Cement gets approval to sell stake
Published: 09 May 2006

Anhui Conch Cement Co Ltd said its parent has been given approval by the central government to sell a combined 14.34 per cent stake in the cement maker to MS Asia Investment Ltd and the International Finance Corp (IFC).   In a statement filed to the Shanghai Stock Exchange, Anhui Conch Cement Co said the State-owned Assets Supervision and Administration Commission (SASAC) gave permission for its parent Anhui Conch Cement Group to sell 133.20 mln shares to MS Asia and 46.80 mln shares to the IFC - the World Bank’s investment arm.