Bank of New York divests Wing Hang stake

Bank of New York sold a 4.919% stake in Wing Hang Bank yesterday (Tuesday) raising HK$731 million ($94 million) at a tight 4.5% discount to the stock's HK$53 spot close. The discount came in at almost half the level of recent placements, although the stock was down 2.7% on a day when the Hang Seng Index closed 0.2% up.