Hong Leong Asia said on Monday that its wholly owned subsidiary, Well Summit Investments, purchased 600,000 shares of New York Stock Exchange-listed China Yuchai International, or CYI, for a total of US$8.39 million.
The share purchases, which were made in the market between 19 November and 29 November, were at US$0.10 each and represented around 1.47 percent of CYI’s share capital, it said in a filing to SGX after the market close on Monday.
After the share acquisitions, Hong Leong Asia holds a total 16.96 million ordinary shares in CYI and one special share of US$0.10, it said.
That represents around 41.51 percent of CYI’s share capital as of 29 November, Hong Leong Asia said.
CYI, a Bermuda holding company, is a subsidiary of Hong Leong Asia and its major operations are in China, its website said. Its principal operating subsidiary is Guangxi Yuchai Machinery, which manufactures and sells light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, and marine and agriculture applications, the website said.
