TORONTO, May 27, 2022 /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 110,700 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$54.40 per Class B Share, for aggregate gross proceeds of approximately C$6,022,080.
Following the foregoing transactions, Fullbloom will hold 53,128,474 Class B Shares of Teck, representing approximately 9.99% of the issued and outstanding Class B Shares and approximately 4.05% 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. While it 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 and is supportive of Teck's management team and the strategic direction of Teck.
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