# China Investment sells some shares in Teck Resources
Published: 2023-07-05
Category: News
Category URL: https://business.express/category/news/
Meta Title: China Investment Corporation Sells Shares in Teck Resources
Meta Description: Read about China Investment Corporation selling some shares in Teck Resources, adjusting its portfolio for nearly C$169,000 proceeds.
URL: https://business.express/china-investment-sells-some-shares-in-teck-resources/

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(Reuters) – China investment corporation (CIC) said on Tuesday its wholly-owned subsidiary, Fullbloom Investment Corporation, sold some of its shares in Teck Resources Ltd.

The company sold 3,000 Class B subordinate voting shares for gross proceeds of nearly C$169,000 ($127,720.68) at about C$56.30 apiece, CIC said.

CIC said the transaction was undertaken to adjust its portfolio.

Fullbloom now holds 50.8 million of Class B shares of Teck, or about 9.895% of the issued and outstanding Class B Shares.

($1 = 1.3232 Canadian dollars)

(Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Krishna Chandra Eluri)


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