The Banking and Strategy Initiative

Chillin' out till it needs to be funded

Temasek, CIC purchase more of China Construction Bank

How BofA’s CCB stake sale played out? 

Temasek Holdings , a Singapore owned sovereign fund upped its stake from 8.10% to 9.42% buying $2.1 bln worth 377 mln of the

Temasek Holdings

Image via Wikipedia

bank’s shares in Hongkong around Nov 10 while home investor China Investment Corp on the verge of splitting its domestic bank holdings into Huijin corp grew its stake to over 60% with another $1.5 bln worth of shares purchased in CCB from Hong Kong

Huijin purchased 277 mln shares of the bank to take its stake to 60.42% according to a WSJ report.BofA reported a $1.8 bln Capital gain on the last transaction sale of 4% committed directly in  a bulk deal at the exchange both transactions were seemingly closed around Nov 10

Earlier the bank had reported a nine month profit of $21.7 bln on Oct 31 (now almost $22 bln at $1=Cn6.34) Shares hit a low of  HKD 5.3 today in Hong Kong while Temasek’s purchase price was a good HKD 1 lower or $0.56 cents The Huijin purchase price works out closer to market at $0.64 cents while this week’s closing works out to $0.69 at HKD 7.789 per USD


One comment on “Temasek, CIC purchase more of China Construction Bank

  1. Pingback: Moving China’s governance models – Investments, Splits and higher FDI | The Banking and Strategy Initiative

Comments are closed.


%d bloggers like this: