Word: petrochina
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Filings by the Harvard Management Company indicate the University owned 72,000 shares of that oil stock, PetroChina, as of June 30 of this year. Jack Meyer, the management company president, would not say on Friday whether Harvard still owned the stock. If Harvard has held those shares, its stake in the company would be worth $3.87 million today...
...anything it considers sensitive. Foreigners may own only 50% of domestic auto plants, for example, and they aren't allowed to buy outright a Chinese insurer, bank or brokerage. In addition, most state enterprises structure their listings so that shareholders never exert real control. A plum company like PetroChina, for instance, is immune to shareholder meddling because only about 10% of its shares are listed overseas...