Foreign investor in Huaxin Cement share buy

Foreign investor in Huaxin Cement share buy
03 January 2011

Huaxin Cement Company, China has announced that its foreign shareholder Gaoling Fund, bought an additional 155,300 US dollar denominated B shares or a 0.04% stake in the company through the trading platform of the Shanghai Stock Exchange on December 28.

After the deal, Gaoling Fund lifted its ownership in Huaxin Cement to 5.01% or 20.220347 million shares from 4.97%, according to the Wuhan-based cement and concrete maker.

Gaoling Fund said that it intended to continue the share purchase in the following 12 months, describing the purchase as a normal investment. The fund bought a total of 2.0239 million shares in Huaxin Cement at USD 2.0357-2.7386 each from June 28 to December 27.

Gaoling Fund is an Asia focused fund managed by Hillhouse. Hillhouse manages capital for world-class institutional investors, concentrating on making equity investments over a long term investment horizon. As at late-2010, Hillhouse has approximately US$4 billion (HK$31.2 billion) in invested and committed capital under management.
Published under Cement News