June 10, 2010 (Chinavestor) - Singapore based financial holding company Templeton Asset Management Ltd.raised its shareholding in Aluminum Corp of China Ltd (Chalco) (SHA:601600) (HKG:2600) (NYSE:ACH) to 15.30% from 14.97% on June 7, according to the bourse operator Hong Kong Exchanges and Clearing (HKG:0388).
HKEx said in a statement that Templeton Asset Management Ltd. has acquired 13.2 million H-shares in Chalco for HK$79.424 million (US$10.19 million). The average price of the share transaction was HK$6.017apiece.
Low commodity prices hurt profitability of resource players in the short term but create value for long-term investors. Price of aluminum have fallen from 2450 to 1850 just in two months.
Primary Aluminium Price Graph
Source: London Metal Exchange
H-shares of Chalco fell 19.26% in one month to end at HK$5.91 on Thursday.
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