China Knowledge quoted the bourse operator Hong Kong Exchanges and Clearing said Baring Asset Management Ltd, a global investment management firm, recently cut its H-share holdings in Maanshan Iron & Steel Co Ltd to 6.95% from the previous 7.22%.
HEKx said that Baring Asset sold 3.02 million H-shares in the country's third-largest steel producer for HKD 3.73 million on June 17th. The average share price of the transaction was HKD 12.35 apiece.
On June 12th, Swiss investment bank UBS AG earlier cut its H-share holding in Maanshan Iron & Steel Co Ltd to 4.83% from the previous 5.68%, selling 14.68 million H-shares of the Chinese company for HKD 75.49 million.
