Bank stakes for sale
Source: Bloomberg News |
July 6, 2011, Wednesday
|
Print Edition
Print Edition
TEMASEK Holdings Pte is seeking to raise about HK$28 billion (US$3.6 billion) by selling stakes in China Construction Bank and the Bank of China, two of the country's three biggest banks.
The Singapore-based investment company is selling HK$18.7 billion of shares in BOC and about HK$9.3 billion in an offering of CCB stock, according to term sheets obtained by Bloomberg News.
Morgan Stanley is managing both sales, the terms showed. Jeffrey Fang, a spokesman for Temasek, declined to comment.
The Singapore-based investment company is selling HK$18.7 billion of shares in BOC and about HK$9.3 billion in an offering of CCB stock, according to term sheets obtained by Bloomberg News.
Morgan Stanley is managing both sales, the terms showed. Jeffrey Fang, a spokesman for Temasek, declined to comment.
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