Aluminum Corp. of China or Chalco's (HKG:2600, SHA:601600) controlling shareholder, Aluminum Corporation of China, is proposing to increase its holding of A and H shares in the company, a Tuesday filing with the Hong Kong bourse said.

Aluminum Corporation of China will buy between 1 billion yuan and 2 billion yuan worth of additional shares in the Chinese aluminum company, with the number of shares limited to 2% of the latter's total share capital.

The acquisitions will take place within a 12-month period.

Currently, Aluminum Corporation of China, directly and indirectly, holds a total of 32.43% shares in the company.