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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Temasek confirms $2.8 bln CCB investment

Posted on 07 September 2011

Nagi HamiyehTemasek Holdings confirmed in a filing with the Hong Kong stock exchange on Monday that it bought part of Bank of America Merrill Lynch’s stake in China Construction Bank, sold through a private transaction a week ago.
The Singapore investment company said it bought 4.4 billion of the H-shares, or about one-third of the 13.1 billion shares that BoA Merrill sold, at a price of HK$4.94 apiece. This means it spent about $2.8 billion. The acquisition increased its share of the Chinese lender’s H-share capital to 8.1% from 6.27%……………………………………….Full Article: Source


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