Wednesday, December 31, 2008

JPMorgan Chase raises holdings in Shanghai Electric Group

U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in Shanghai Electric Group Co<601727><2727> to 5.02% from 4.96% on Dec. 22, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<388>.

HKEx said in a statement on Monday that JPMorgan Chase has acquired 1.93 million H-shares in Shanghai Electric Group for HK$58.672 million. The average price of the share transaction was HK$3.04 apiece.

H-shares of Shanghai Electric Group surged 5.52% to end at HK$3.06 on Tuesday.

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