Temasek trims holdings in BOC and CCB

The Singapore investment company sells $2.4 billion worth of shares in Bank of China and $1.2 billion of shares in China Construction Bank through two block trades arranged by Morgan Stanley.

Temasek Holdings last night raised $3.6 billion by selling part of its stake in Bank of China and China Construction Bank the largest sell-down by the Singapore investment company in either bank to date and its biggest divestment in any sector so far this year.

It made the sales through two separate block trades, but since they were in the same sector and Morgan Stanley was the sole bookrunner on both transactions, they were obviously...

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