Ford ups stake in China Jiangling Motors to 30 pct
Wed Aug 10, 2005
SHANGHAI, Aug 11 (Reuters) - Ford has raised its stake in China's Jiangling Motors to 30 percent, after buying 0.04 percent of the Chinese company's shares on the open market, the Shenzhen-listed auto maker said in a filing published in state media on Thursday.
The additional purchase was worth about 1.06 million yuan ($130,800), based on Jiangling's latest closing price on Aug. 5 of 3.30 yuan per B share.
The U.S. motors firm bought 321,400 B shares, which are open to foreign investors, Jiangling said in the filing published in the China Securities Journal.
($1=8.106 Yuan)
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