CMOC Group to Invest in Boyu Xinzhi Fund; Hong Kong, Shanghai Shares Jump 3%

MT Newswires Live12-03

CMOC Group (HKG:3993, SHA:603993) agreed to invest 500 million yuan in an investment fund, according to a Hong Kong bourse filing on Tuesday.

Shares of the miner gained over 3% in late morning trade Friday.

The company will funnel funds into Boyu Xinzhi Xinchan (Ningbo) Equity Investment, which is focused on the technology, healthcare, and consumer products and retail sectors.

The fund was established in July and has yet to complete its filing.

The company's significant shareholder, Contemporary Amperex Technology (SHE:300750, HKG:3750), is also investing in the fund.

Shares of CMOC rose nearly 3% in Shanghai and over 3% in Hong Kong in recent trading.

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