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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

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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

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