State Investor Buys more in China 3 Listed State Banks

China SAFE Investments Limited, a Chinese government investment arm, has added holdings by 0.01 percent, 0.01 percent and 0.0021 percent in Industrial and Commercial Bank of China (SHSE: 601398), China Construction Bank (SHSE: 601939) and Bank of China (SHSE: 601988) respectively.

The government investment vehicle also committed that it will continue to purchase more into the three listed state banks in the coming 12 months.

Industrial and Commercial Bank of China, the largest lender by assets in the country, said in an announcement that China SAFE Investments bought 30.07 million Chinese yuan-denominated A-shares on the Shanghai Stock Exchange recently, raising the stake it holds in the bank from 35.41 percent to 35.42 percent.

The state investor also gained 16.14 million and 5.13 million A-shares in China Construction Bank and Bank of China, expanding the holding it owns to 57.09 percent and 67.5279 percent respectively, according to announcements of the latter two banks.

China SAFE Investments spent around CNY 260 million in total on the share purchase, or CNY 150 million, CNY 20.50 million and CNY 93.61 million separately.

Source: www.cnstock.com (October 12, 2009)

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