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International Fidelity cuts stake in Dalian Port

Shipping News | December 9, 2009 | View Comments
  • U.S.-based investment company Fidelity International Ltd recently reduced its shareholding in Dalian Port Co Ltd (PDA) to 8.83% from the previous 9.17%, according to the bourse operator Hong Kong Exchanges and Clearing.

    Statistics from the HKEx showed that Fidelity sold approximately 3.64
    million shares of Dalian Port for US$1.47 million on Dec. 2. The
    average share price of the transaction was US$0.41 apiece.

    Dalian Port said in October this year that it intends to issue up to
    1.2 billion A shares in mainland China. The company plans to use the
    proceeds from the issuance to buy the remaining core port assets from
    its parent company Dalian Port Group.

    Source: China Knowledge

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    • Fidelity cuts stake in the Dalian Port to 11.49%
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