Bank of China (BOC) has spent six billion yuan on acquiring 4.54 percent stake in Beijing-Shanghai High-Speed Railway Corp, Oriental Morning Post reported Thursday, citing the lender's statement.
The nation's third largest lender by market value completed the deal through its wholly-owned investment arm Bank of China Group Investment. BOC became the fifth largest shareholder of Beijing-Shanghai High-Speed Railway after the transaction.
The investment would be funded by self-owned capital, BOC said in the statement.
Beijing-Shanghai High-Speed Railway, the operator of the 1,318 km express rail link being built between the country's most affluent cities, was founded in January 2008 with a registered capital of 115 billion yuan.
China Railway Investment Corp, owned by the Ministry of Railways, is the largest shareholder of the Beijing-Shanghai High-Speed Railway Co. Ping An Asset Management Co and the National Council for the Social Security Fund are the second and third largest shareholders of the project, owning 13.9 percent and 8.7 percent of the stake, respectively.
