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China buys interest in Kazakh oil, gas company

China Investment Corporation (CIC) has paid $939 million for a stake in Kazakh oil and gas company KazMunaiGas (KMG), the Xinhua news agency reported on Wednesday

China buys interest in Kazakh oil, gas company China buys interest in Kazakh oil, gas company

It said CIC had purchased about 11 percent of KMG's Global Depository Receipts (GDRs).

KMG stocks are listed on the Kazakhstan Stock Exchange and its GDRs are traded on the London Stock Exchange.

The agency said KMG's GDRs rose 9.95 percent to $22.1 on Wednesday morning's trade in London.

Source : RIA Novosti