China’s Anhui Conch Cement Ltd said Tuesday two strategic investors will pay 3.7 per cent more per share for the minority stakes they had agreed to buy in the Hong Kong and Shanghai-listed company in a deal totaling CNY1.27 billion.  China’s largest cement producer said MS Asia Investment Ltd., a unit of Morgan Stanley (MWD), and the World Bank Group’s private-sector arm, the International Finance Corp., will pay its parent CNY7.05 a share for their stakes, up from the CNY6.80 a share reported earlier.  The purchase price still reflects a 31 per cent discount to Anhui Conch’s Monday closing price in Shanghai of CNY10.25.  
 
The two firms signed an agreement in December to take minority stakes in Anhui Conch in a deal involving the transfer of nontradable shares from the company’s controlling shareholder, China Anhui Conch Group. Anhui Conch is in the process of floating its nontradable shares.  MS Asia will pay CNY939.06 million for 133.2 million shares, or 10.61 per cent of the existing share capital of Anhui Conch, up from 132 million shares previously reported.  IFC will pay CNY329.94 million for 46.8 million shares, or about 3.72 per cent of the share capital, down from 48 million shares earlier.  
 
Anhui Conch didn’t elaborate on the price increase. It said the proposed share transfer is conditional upon regulatory approval.  After the deal’s completion, China Anhui Conch Group will retain effective control of the listed unit with a 35.24 per cent stake.