TORONTO, July 4, 2023 /CNW/ - China Investment Corporation ("CIC") announced that its wholly-owned subsidiary, Fullbloom Investment Corporation ("Fullbloom"), with registered office at Room 1710-B, New Poly Plaza, No. 1 Chaoyangmen Beidajie, Dongcheng, Beijing 100010, China, has today sold 3,000 Class B subordinate voting shares ("Class B Shares") of Teck Resources Limited ("Teck") by way of trades on the Toronto Stock Exchange and other alternative trading systems in Canada at an average price of approximately C$56.30 per Class B Share, for aggregate gross proceeds of C$168,921.00.
Following the foregoing transactions, Fullbloom will hold 50,791,674 Class B Shares of Teck, representing approximately 9.895% of the issued and outstanding Class B Shares and approximately 3.938% of the aggregate voting rights attaching to Teck's Class A common shares and the Class B Shares of Teck.
The disposition of the Class B Shares was undertaken due to portfolio adjustment. CIC may undertake purchases or sales of securities of Teck in the future subject to applicable contractual restrictions and depending on market conditions, portfolio considerations and other factors. CIC remains a significant shareholder of Teck, is supportive of Teck's management team, and has confidence in the fundamental prospects of Teck's business.
A copy of the amended early warning report to which this press release relates will be filed shortly on www.sedar.com under Teck's issuer profile.
SOURCE China Investment Corporation
View original content: http://www.newswire.ca/en/releases/archive/July2023/04/c0142.html