Singapore state investor Temasek Holdings has increased its stake in Industrial and Commercial Bank of China (ICBC) to 10 percent by acquiring HK$141 million ($18 million) of shares in the largest Chinese bank.
Temasek, which previously owned 9.97 percent in ICBC, bought another 30 million ICBC shares at an average price of HK$4.696 a share. "Temasek is confident in the long-term prospect of the Chinese economy. We actively seek opportunities to broaden and rebalance our exposure to the Chinese economy," Temasek spokesman Jeffrey Fang said in an emailed statement...............................................Full Article: Source
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