ARCELORMITTAL, the world's largest steel maker, sold a 17.4-percent stake in China Oriental Group Co to two institutional investors to make enough shares publicly available to keep the company's listing in Hong Kong.

Luxembourg-based ArcelorMittal sold 509.8 million China Oriental shares to ING Bank NV and Deutsche Bank AG at HK$5.7938 (74 US cents) a share, it said in a filing yesterday. The steel maker, controlling shareholders and directors cut their holding in China Oriental to 75 percent from 92.4 percent after the transaction.