Schroder Embroidery Machine Inv't cuts stake in Chenming Paper to 9.89%
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Schroder Inv't cuts stake in Chenming Paper to 9.89%Published: 14 Jul 2009 23:10:29 PST

Top 5 News From ChinaKnowledge.comAcer to launch Android/XP netbook in Aug: reportChina's fiscal revenue rose 19.6% in JuneHang Seng Index opens 157 points higher on WedHuayi Electric to set up wind turbine manufacturing baseQFII funds outperform domestic funds in H1 Jul. 15, 2009 (China Knowledge) - Schroder Investment Management Ltd, a major mutual fund company, recently cut its H-share holding in Shandong Chenming Paper Holdings<000488><200488><1812> to 9.89% from the 10.02% it held earlier, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

HKEx said that Schroder Investment on Jul. 7 sold 515,000 million H shares of the Chinese company for HK$2.87 million. The average share price of the transaction was HK$5.579 apiece.

Chenming Paper, a key paper producer in China, announced last month that it would invest RMB 9.8 billion in two paper projects and a logistics project in Shouguang, Shandong Province, to increase high-end paper production and enhance its overall competitive strength, according to an earlier report from China Knowledge.



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