Holcim , the world’s second-largest cement maker, has increased its stake in Chinese cement maker Huaxin Cement Co. Ltd. , the Chinese company said on Tuesday. Holcim B.V. had bought an additional 8.7 million publicly traded B shares in Huaxin, or 2.67 percent of its equity, it said in a statement published in the Shanghai Securities News. The deal would be valued at about 2.7 million yuan (US$326,200), based on Tuesday’s share price.
After the purchase, Holcim owned 85.76 million B shares or 26.11 percent of Huaxin, maintaining its status as Huaxin’s second biggest shareholder, it said. The cement maker is based in Hubei province and has a capacity of 8Mta
On Tuesday Huaxin’s Shanghai-listed A shares, which are open to select foreign investors, were trading flat at 3.78 yuan a share. B shares, fully open to foreigners, traded at 0.309 yuan, up 1.64 percent. ($1=8.276 yuan)