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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Bank of America had sought CCB share sale

Posted on 17 December 2008

From CNN: In November, Bank of America increased its stake in China Construction Bank to 19.13% from 10.8% by acquiring 19.58 billion additional Hong Kong dollar- denominated H shares from Central Huijin Investment Co, an investment vehicle of China’s US$200 billion sovereign wealth fund.

The lockup period on the 19.58 billion H shares it bought then will expire on Aug. 29, 2011. It didn’t say, however, that it wouldn’t sell down its older holdings in CCB….. Full Article: Source


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