HK Stock Market Move | CITIC RESOURCES (01205) rises over 5%, selling shares of American Aluminum Industry to cash out approximately HK$926 million.

CITIC RESOURCES (01205) resumed trading this morning with a gain of over 5%, as of the time of writing, the stock is up 5.36% at HK$0.59, with a trading volume of HK$21.208 million. On the news front, on the evening of March 5th, CITIC RESOURCES announced that on March 4th, its wholly-owned subsidiary CRA sold a total of 1.9 million shares of Alcoa Inc. through a series of on-exchange transactions on the NYSE, at an average price of $62.451 per share (equivalent to approximately HK$487.12), representing approximately 0.72% of the total issued shares of Alcoa Inc., for a total consideration of approximately $119 million (equivalent to approximately HK$926 million). After the transaction, CRA continues to hold 1.6919 million depositary receipts and 551.3 thousand shares of Alcoa Inc., while the cumulative profit from the sale of Alcoa Inc. depositary receipts is approximately HK$266 million.