Goldman sell-down in ICBC

Goldman sells $2.5 billion of ICBC shares; Temasek main buyer

Temasek buys $2.3 billion of the shares, increasing its stake above 5% of ICBC's H-share capital, while Goldman Sachs reduces its holdings to 4.99%.

<div style="text-align: left;"> Goldman Sachs’s stake in ICBC drops below 5% after a $2.5 billion sell-down (ImagineChina) </div>

Anette Jönsson

April 17, 2012

A reverse inquiry from Temasek Holdings over the weekend prompted Goldman Sachs to sell close to half its remaining stake in Industrial and Commercial Bank of China (ICBC) before the opening of Hong Kong trading yesterday. The self-led deal was done at a fixed price and saw the US bank raise about $2.5 billion.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].