(Bloomberg) -- Pictet Asset Management Hong Kong Ltd.’s holding in China Construction Bank shares was raised to 8.32% on Oct. 3 from 0.01%, according to a Hong Kong Exchange disclosure.
According to the filing, the Swiss asset manager has a long position in the Chinese lender, as it became the holder of, or issued equity derivatives under which it has the right to take underlying shares. The transaction involves 20 billion Hong Kong-listed China Construction Bank shares, at an average price of HK$6.06 ($0.78).
Chinese shares have skyrocketed since late-September as a barrage of economic, financial and market-support measures reinvigorated investor confidence and prompted the likes of Goldman Sachs Group Inc. to upgrade the nation’s stocks to overweight.
CCB’s shares are up 33% so far this year.
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