(Yicai Global) Feb. 11 -- Beijing Tourism Group, a state-owned travel and hospitality conglomerate, plans to spend between CNY176 million and CNY650 million (USD25 million and USD93 million) raising its stake in four of its publicly traded companies.
The four firms -- BTG Hotels Group, China Quanjude Group, Wangfujing Group and Beijing Capital Retailing Group -- released separate statements over BTG's stake increase yesterday.
The amount of share increase in Quanjude is expected to equal at least 1 percent but no more than 2 percent of BTG's total shares, and those in Wangfujing Group, BTG Hotels Group and Beijing Capital Retailing Group will each equal at least 0.5 percent but no more than 2 percent of its issued capital shares, per the statements.
Shares of BTG Hotels [SHA:600258] rose 1.2 percent today to close at CNY16.89 (USD2.42) each. Quanjude [SHE:002186] climbed more than 4.4 percent to CNY9.18, while Wangfujing [SHA:600859] rose almost 1.8 percent to CNY12.71 and Capital Retailing [SHA:600723] jumped 3.1 percent to CNY5.64.
Editor: Peter Thomas