April 12, 2018 / 2:42 AM / 10 days ago

China's Central Huijin to sell about 9.5 pct stake in CICC

SHANGHAI, April 12 (Reuters) - China International Capital Corp Ltd (CICC) said its biggest shareholder, Central Huijin Investment Co, has put up for sale a roughly 9.5 percent stake in the company worth about 5 billion yuan ($796.80 million).

The stake sale is expected to diversify its investor base and optimize its shareholding structure, said CICC, one of China’s largest investment banks, in an exchange filing on Wednesday.

The stake has been put up for sale via the Beijing Financial Assets Exchange.

Central Huijin, the investment unit of China’s sovereign wealth fund, currently holds an about 55.7 percent stake in CICC.

$1 = 6.2751 Chinese yuan Reporting by Engen Tham and Samuel Shen; Editing by Biju Dwarakanath

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