T. Rowe bottes plates Price cuts shareholding in Gome to 6.22%
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T. Rowe bottes plates Price cuts shareholding in Gome to 6.22%
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T. Rowe Price cuts shareholding in Gome to 6.22%Published: 29 Jun 2009 22:24:36 PST
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Top 5 News From ChinaKnowledge.comHaier likely to cut sales growth target for Asia-Pacific regionHongkong Electric eyes stake in world's largest wind farmChina advances auto replacement subsidy planBOC to sell RMB 40 bln in subordinated bonds on Jul 6Anglo American may sell MMX stake to ChinalcoJun. 30, 2009 (China Knowledge) - T. Rowe Price Associates Group, Inc,a U.S.-based financial services holding company, recently cut itsshareholding in China's Gome Electrical Appliances HoldingLtd<0493> to 6.22% from the previous 8.22%, according to thebourse operator Hong Kong Exchanges and Clearing (HKEx)<0388>.
HKEx said that T. Rowe Price sold 127 million shares of Gome for HK$487million on Jun. 24. The average share price of the transaction wasHK$1.841 apiece.
Gome last week said U.S.-based private equity giant Bain Capital LLCwill invest about HK$3.2 billion into the company to take a stake of upto 23.5%, or 4.1 billion shares.
H-shares of Gome declined 1% to end at HK$1.92 on Monday.
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