The chairman of Guangdong Kelon Electrical Holdings Co. has increased his stake in the refrigerator maker to 26.4 percent from 20.6 percent, the company said in a statement.
Gu Chujun, through his vehicle Greencool Enterprise Development Co., had agreed to buy the additional 5.79-percent stake from a company called Foshan Shunde Xinhong Enterprise Co. He paid 1.70 yuan each for the 57.44 million legal-person shares, the statement said.
Under Chinese law, such shares can't normally be traded on the open market and are often sold at a discount to publicly traded shares.
Guangdong Kelon's Hong Kong-listed shares closed at HK$3.25 on June 11. (Dow Jones)
to Daily News