The Capital Group Companies (Capital Group) recently increased their stake in HK-listed TravelSky Technology (TravelSky). According to a filing made to the Hong Kong Stock Exchange on April 27th, 2017, the firm bought 21,213,000 shares on the exchange at an average price of HKD 19.03 per share on April 26th (total consideration was ~US$51.8m). Following the purchase, their stake in TravelSky increased from 5.44% to 7.71% of the company’s shares outstanding.

TravelSky is the leading provider of information technology solutions for China’s aviation and travel industry. The company was incorporated in 2000 and listed on the Hong Kong Stock Exchange in 2001. TravelSky’s core businesses include aviation information technology services, distribution information technology services as well as clearing, accounting and settlement services.

Approximately 39% of the equity interest in the company is held by 13 Chinese commercial airlines, including the three largest airline companies: China Southern Air Holding Company, China Eastern Air Holding Company and China National Aviation Holding Company.

Capital Group is a privately held financial services company. The firm offers more than 40 mutual funds through its subsidiary, the American Funds. They also provide a range of other product offerings for institutional clients, high net worth investors and individual investors in the U.S. and globally. Capital Group was founded in 1931 and manages US$1.4 trillion as of December 31, 2016.