Economy & Market
Credit Suisse reduces its stake in Anhui
According to the information given to Hong Kong Stock Exchange, Credit Suisse Group AG has sold 805,174 shares in Anhui Conch Cement Co worth HK$ 21.95 m (US$ 2.8 m). Switzerland financial institution still holds 103.10 m shares in the Anhui Province-based cement producer, accounting for a 7.93 per cent stake.
Anhui Conch has issued a official statement that it expects first-half net profit to be up by about 90 per cent YoY compared to CNY 3.06 bn (US$ 492.75 m) a year earlier.