News China27 Sep 2019

Dajia takes ETF route to sell equities

27 Sep 2019

Dajia Life Insurance has effectively sold part of its stake in state-owned China State Construction Engineering by swapping the equity for shares in three exchange-traded funds (ETFs), cutting its holding to 8.59% from 11.06%, the Shanghai-listed construction and engineering group has announced. A total of 1.038bn shares were exchanged in a deal worth around CNY6bn ($841m).

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