China Investment sells some shares in Teck Resources
Highland Valley Copper (HVC) Operations, southwest of Kamloops in British Columbia. (Image courtesy of Teck.)
China investment corporation (CIC) said on Tuesday its wholly-owned subsidiary, Fullbloom Investment Corporation, sold some of its shares in Teck Resources Ltd.
The company sold 3,000 Class B subordinate voting shares for gross proceeds of nearly C$169,000 ($127,720.68) at about C$56.30 apiece, CIC said.
CIC said the transaction was undertaken to adjust its portfolio.
Fullbloom now holds 50.8 million of Class B shares of Teck, or about 9.895% of the issued and outstanding Class B Shares.
($1 = 1.3232 Canadian dollars)
(By Shubhendu Deshmukh; Editing by Krishna Chandra Eluri)
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