Temasek divests $570 million stake in Bank of China

Despite the volatile market, the block trade is completed at a tight 3.5% discount.

Temasek Holdings has sold part of its shareholding in Bank of China BOC through an aggressively priced block trade, raising HK$4.42 billion $570 million.

The sale, which was arranged by Morgan Stanley, came on the back of a strong day for Hong Kong equities, but still surprised many observers given that the market remains extremely volatile with day-to-day swings in the Hang Seng Index having exceeded 1,000-points no fewer than five times in the past two weeks. And...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition