Word: petrochina
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Representatives for PetroChina did not answer calls for comment to their offices in Beijing yesterday...
...parent company retained a 90 percent stake in PetroChina even after the IPO, the Associated Press reported...
With more than $3 billion in the stock market, as of June 30, 2004, Harvard Management Company holds shares in over a thousand corporations, from Abercrombie & Fitch to Zebra Technologies. The University’s holdings in PetroChina likely represent less than 0.02 percent of the entire endowment...
Activists hope that a move by Harvard to sell its shares of PetroChina could jump-start a broad divestment effort...
Harvard’s stake in PetroChina is “a highly symbolic investment,” Reeves said. He said the University would “send a chill up the spine of all institutional shareholders of PetroChina” if the endowment fund dropped its stake in the company...