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Capital Group buys HK$8 bln BOC H shares

Sep. 13, 2012 (China Knowledge) - The Capital Group Companies Inc, one of the world's largest investment management organizations, recently bought HK$8 billion worth of H shares of Bank of China Ltd<601988><3988>, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

On Sep. 3, Capital Group purchased about 2.82 billion H shares of the Chinese bank through five subsidiaries.

After the share purchase, Capital Research and Management Co holds 2.82 billion BOC H shares, Capital Guardian Trust Co holds 360 million, Capital International Inc holds 790 million, Capital International Sarl holds 250 million and Capital International Ltd holds 23.76 million.

The stake hike came after a wave of sales of stakes in Chinese lenders by foreign institutions.

Capital Group also owns 3.7 billion H shares of Agricultural Bank of China Ltd or ABC<601288><1288> and 328 million H shares of Chongqing Rural Commercial Bank Co<3618>.

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