It is reported that shares of BHP Billiton Ltd rose more than 4% Friday to a record high of AUD 50 amid further speculation about Chinese interest in a stake in the company.

According to The Australian newspaper, Chinese companies have pitched a partnership to an Australian investment fund with the aim of taking a 9% stake in the mining giant. But it did not name the fund or the Chinese companies.

The newspaper report said that the rumored deal would see the Chinese take 4.5% of BHP Billiton, while the remaining 4.5% would be split between the Australian fund and a global private equity investor. It is just the latest of recent rumors of unnamed Chinese entities seeking to build a stake in the mining giant.

Ms Samantha Evans a BHP Billiton spokeswoman said the company has no comment on the report.