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IBM Purchases 30 Mln Changhong Shares

Guangzhou Daily, 1/19/09

Consumer electronics firm Changhong (600839.SH) has announced that its largest shareholder, Changhong Group, has transferred approximately 30 mln shares in unrestricted stock to IBM China for approximately RMB 108 mln, or RMB 3.64 per share.

The trade affects 1.56% of Changhong's total stock, and makes IBM China the second largest shareholder in Changhong. IBM China has said it will not transfer or reduce its share in the company for at least one year after the trade is completed.

Keywords: investment 600839.SH Changhong consumer electronics hardware IBM

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