China Construction Bank block raises $52 million

A handful of investors snap up the shares during the lunchtime break.

An undisclosed investor yesterday sold HK$405 million $52 million worth of shares in China Construction Bank CCB. The UBS-arranged block trade, which was launched during the lunchtime break, was said to have been snapped up by a handful of Asian investors in less than a minute.

A total of 100 million shares were sold at a fixed price of HK$4.05 each, representing a 2.9% discount to the morning session closing price of HK$4.17. CCB's...

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