Chengtong buys Metallurgical Corp shares

Metallurgical Corp of China Ltd, the country's biggest metallurgical engineering contractor, announced on Wednesday that 24.76 million of its nonpublic offering shares were purchased by China Chengtong Holdings Group Ltd, a State-owned asset-operating group.

The lockdown period for these shares will last for 12 months. MCC's stock rose by the 10 percent daily trading limit to close at 5.1 yuan (0.74 cent).

This is the first time that China Chengtong, which currently holding 350 billion yuan of equity funds for financing the restructuring of SOEs, put money into the country's A-share market.