Source:  Reuters                Date: 25 May, 2011

China-focused private equity fund Hopu Investment Management Co sold nearly half its stake in Winsway Coking Coal Holdings for around USD82 million on May 20, Winsway has said. Hopu subsidiary Winstar Capital Group sold 163 million shares at HKD3.92 at the end of a six-month lock-up period.

Winsway raised USD473 million in a Hong Kong IPO last year. The company is one of China's major integrated importers and distributors of coking coal, accounting for around 65 percent of total Mongolian coal imported into China in 2009, based on SXcoal's import data. Hopu owns almost 5 percent of the company after the sale.