Sohu.com, one of China's three overseaslisted internet portals, announced that three foreign institutions are to lift their collective stake in the company to more than 20 per cent. The institutions are acquiring shares held by an investment entity backed by Beijing University. The UK's Hermes Pensions Management and Martin Currie Investment Management and the US-based Jayhawk Management have increased their stakes to 8.4 per cent, 4.2 per cent and 8 per cent respectively.
Sohu made a small profit in the third quarter of 2002 on the back of a 52 per cent year-on-year increase in advertising sales.