CIC sells China Longyuan Power shares

Updated: 2013-03-15 21:42

By Cai Xiao (chinadaily.com.cn)

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China Investment Corp, China's sovereign wealth fund, cashed out 1.04 billion yuan ($165.8 million) from Hong Kong-listed company China Longyuan Power Group Corp by selling 4.49 percent of its H shares, according to data from the Hong Kong Stock Exchange on Friday.

The average selling price was 6.96 yuan per share and CIC now has a 7.29 percent stake in Longyuan.

CIC purchased $400 million worth of shares during the company's $2.2 billion Hong Kong initial public offering in 2009.

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