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Sovereign Wealth Funds Briefing - Categorized | Market

GCL-Poly slumps after CIC unit sells some stake

Posted on 19 June 2013

GCL-Poly Energy Holdings Ltd.dropped the most in 20 months after a unit of China Investment Corp. sold 1.2 billion shares in the largest maker of materials used in solar panels. GCL-Poly dropped as much as 13 percent to HK$1.82, the sharpest fall since Oct. 4, 2011, and was at HK$1.86 as of the noon trading break in Hong Kong. The city’s benchmark Hang Seng Index declined 0.6 percent.
Chengdong Investment Corp., a subsidiary of CIC, sold 1.2 billion shares of GCL-Poly, representing 7.8 percent of the polysilicon maker’s equity capital, at HK$1.87 each, according to a GCL-Poly statement to the Hong Kong stock exchange……………………………………….Full Article: Source


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