Bank of China shareholder cashes in $181 million

An undisclosed shareholder disposes of his entire stake in the Mainland bank in a straight-forward fixed-priced deal.

An existing shareholder last night sold HK$1.42 billion $181.8 million worth of stock in Bank of China at a fixed price of HK$4, sources familiar with the transaction said.

The deal came as the Hong Kong stock market soared 444 points, or 2.2%, to a new closing high of 20,772 points. The close was only seven points off the intraday peak of 20,779 points, which was reached two minutes before the final bell.

However, like most of the...

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