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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Bank of America raises holding in China Construction Bank

Posted on 05 December 2008

From China Knowledge: Bank of America Corp has raised its stake in China Construction Bank Corp (CCB), China’s top property lender, sources reported.

CCB said in a statement that the largest lender in the U.S. has bought 19.58 billion H-shares from CCB’s largest shareholder, Central Huijin Investment, at the price of RMB 2.46 per share, or 1.2 times of CCB’s third-quarter book value, lifting its holdings in CCB to 19.13% from 10.8%…… Full Article: Source


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