Temasek confirms $2.8 billion CCB investment

The Singapore investment company bought about one-third of the China Construction Bank shares that Bank of America Merrill Lynch sold through an $8.3 billion private transaction a week ago.

Temasek confirms $2.8 billion CCB investment
Temasek has helped BoA Merrill with its CCB investment three times (AFP)

Temasek 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...

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