JPMorgan increases share hold in Pacific Basin Shipping

Hong Kong: U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in Pacific Basin Shipping Ltd to 9.86% from the previous 8.86%, China Knowledge writes, quoting bourse operator Hong Kong Exchanges and Clearing (HKEx). HKEx said that JPMorgan bought 19.3m shares in Pacific Basin for HK$90.52m on May 27. The average share price of the transaction was HK$4.69 apiece.

On the same day, JPMorgan also increased its shareholding in China Shipping Development Co Ltd to 6.12% from 5.81%, buying 4.05 million H-shares in the company for HK$42.8 million in total or HK$10.57 per share.  [04/06/09]