NEW YORK — Chinese real estate company HCM Group has bought more than $2.2 billion of U.N. shares from the International Monetary Fund for $1.8 billion, the Chinese government said Monday, in a deal that would raise China’s share ownership of U,S.
stocks by nearly 30%.HCM said in a statement that it also bought shares of the U.K. company, which is part of the European Union’s sovereign wealth fund.
The deal is expected to close on Thursday.
The buybacks represent the first time China has bought U.T.O. shares, which it bought as a part of a wider buyback program.
It also means the two companies are now trading at roughly the same price.HCM, the world’s largest real estate investment company, has a strong track record of buying U.H.S., U.F.
S and other U.M.S.-listed shares.
China has also bought UH.
M., which includes several smaller companies, including Aptus Group, which holds about 30% of the shares.
China also has long been a large shareholder in the U-M.A. group, which includes the university and medical schools and is also part of Germany’s Bundestag.HPMG, which has $20.4 billion in assets, is a member of the World Trade Organization and has its headquarters in Hong Kong.