Central Huijin increases stake in major China banks

Central Huijin also said it will support rights issue plans of ICBC, BoC, and CCB.

Central Huijin Investment Ltd., an arm of China's sovereign wealth fund, has finished the first round of increasing stake in China Construction Bank, Industrial and Commercial Bank of China, and Bank of China.

In a statement filed with the Hong Kong stock exchange, the CCB said Central Huijin would continue buying CCB shares on the secondary market in the following 12 months.

According to these banks' statements, Central Huijin increased its shareholdings in CCB by 16,139,217 A-shares, representing approximately 0.01 per cent of the total issued shares of the bank.

Upon completion of the shareholding increase plan in the past year, Central Huijin now holds 133.41 billion CCB shares, including 144.7 million A-shares and 133.26 billion H-shares, representing about 57.09 per cent of the total issued shares of CCB.

Central Huijin increased its holding in ICBC and BoC by 30.07 million A-shares or 0.01 per cent of ICBC's total shares, and 5.126 million A-shares or 0.0021 per cent of BoC's total capitalization, respectively, in the past year.

Up to now, the Central Huijin holds 35.42 per cent of the stake in ICBC and 67.5279 per cent of BoC's shares.

View the full story in Trading Markets.