Zijin Mining Says Billionaire Chen Fashu Sold Shares
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Zijin Mining Group Co., China’s largest gold producer, said billionaire Chen Fashu sold 147 million shares, or 1 percent of the company, according to a filing today to Shanghai’s stock exchange.
The stock disposed of by Chen was worth 1.27 billion yuan ($186 million), based on Zijin Mining’s closing price in Shanghai trading yesterday of 8.67 yuan. Chen still holds 301 million shares, or about 2.07 percent of Zijin Mining, the Fujian province-based company said.