Templeton raises shareholding in Brilliance China

Templeton Asset Management Ltd, a subsidiary of California-based investment management organization Franklin Resources Inc, on Aug. 13 raised its stake in Brilliance China Automotive Holding Ltd to 15.14% from the 14.79% it held earlier, according to the bourse operator Hong Kong Exchanges and Clearing.

Information from HKEx showed that Templeton bought around 17.43 million shares of Brilliance Auto for HK$17.87 million last Thursday. The average price of the transaction was HK$1.03 per share.

Brilliance China, the first Chinese auto maker listed outside mainland China, said earlier that it may report a net loss for the first half of this year, whereas it booked a net profit of RMB 283 million in the first half of 2008, according to an earlier report from China Knowledge.