CIC increases stake in CCB
Source: Bloomberg News |
November 19, 2011, Saturday
|
Print Edition
Print Edition
CHINA Investment Corp, the country's sovereign wealth fund, has bought US$1.75 billion of shares in China Construction Bank, increasing state control of the second-largest Chinese lender by market capitalization.
CIC bought 2.76 billion shares at an average price of US$0.634 off the exchange on Monday, according to a disclosure filing to the Hong Kong stock exchange yesterday, without naming sellers. That brought CIC's stake to 60.46 percent from 59.31 percent.
Bank of America Corp, the second-biggest United States lender by assets, said this week that it plans to bolster capital by selling 10.4 billion shares of CCB this month in private transactions for a profit of about US$1.8 billion, leaving it with a 1 percent stake.
Foreign investors, including BofA, Goldman Sachs and Royal Bank of Scotland, have trimmed more than US$25 billion of holdings in Chinese lenders since the beginning of 2009, according to data compiled by Bloomberg News.
Temasek Holdings Pte bought about a third of the stock that BofA is selling at HK$4.93 (US$0.63) apiece, sources have said.
CIC bought 2.76 billion shares at an average price of US$0.634 off the exchange on Monday, according to a disclosure filing to the Hong Kong stock exchange yesterday, without naming sellers. That brought CIC's stake to 60.46 percent from 59.31 percent.
Bank of America Corp, the second-biggest United States lender by assets, said this week that it plans to bolster capital by selling 10.4 billion shares of CCB this month in private transactions for a profit of about US$1.8 billion, leaving it with a 1 percent stake.
Foreign investors, including BofA, Goldman Sachs and Royal Bank of Scotland, have trimmed more than US$25 billion of holdings in Chinese lenders since the beginning of 2009, according to data compiled by Bloomberg News.
Temasek Holdings Pte bought about a third of the stock that BofA is selling at HK$4.93 (US$0.63) apiece, sources have said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
