Temasek divests New China Life stake in block

Singapore group raises $276m in 78 million share block trade after the market close.

Temasek divests New China Life stake in block

Singapore's Temasek Holdings sold its stake in New China Life, China's third largest insurer, on Thursday after launching a 78 million share block trade after the market close.

Joint leads Goldman Sachs and UBS marketed the deal at HK$27.30 to HK$27.85 per share before pricing towards the bottom of the range at HK$27.45. This represented a 5.5% discount to the stock's HK$29.05 close. 

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