Grantham, Mayo, Van Otterloo & Co. LLC (GMO) recently added to its stake in HK-listed China Machinery Engineering Corporation (CMEC). According to a filing submitted to the Hong Kong Stock Exchange on July 18th, 2017, the firm bought 2,780,000 shares on the exchange on July 14th at an average price of HKD 5.574 per share (the total consideration was ~US$1.99m). As a result, GMO’s stake in CMEC increased from 5.70% to 6.00% of the company’s shares outstanding.

CMEC is an international construction and engineering company, with a particular focus on the power & utilities sector. It is part of the China National Machinery Industry Corporation. The company was founded in 1978 and listed on the Hong Kong Stock Exchange in 2012.

GMO is a global investment management firm with expertise in managing multi-asset class strategies as well as focused strategies in a number of specific asset classes. The firm was founded in 1977 as a private partnership and currently manages ~US$77bn in assets (as of March 31, 2017).