China Investment sells some shares in Teck Resources

Reuters | July 5, 2023 | 8:22 am Top Companies Canada 
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Highland Valley Copper (HVC) Operations, southwest of Kamloops in British Columbia. (Image courtesy of Teck.)

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)

(By Shubhendu Deshmukh; Editing by Krishna Chandra Eluri)

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