Anhui Xinli Investment Group (Xinli Investment) has increased its shareholding in China-based Anhui Chaodong Cement (Chaodong Cement) to 17.34%, following an acquisition of 5.67 million shares at CNY 14.76 (€2.16/US$2.38) each.
Xinli Investment is now Chaodong Cement's second largest shareholder after Prosperity International Holdings (HK).
However, Prosperity International disposed all of its shares in Chaodong Cement on 23 June, 2015.
Even though, the stock rights exchange is still in process, Xinli Investment has practically become Chaodong Cement's major shareholder.
Xinli Investment aims to secure its position as the major shareholder by further increasing its shareholding to as much as 20% by acquiring some 12.1 million shares over the next 12 months.
