bank-of-china-block-changes-hands

Bank of China block changes hands

The undisclosed seller raises $68 million from the transaction, which is completed during the lunchtime break.
A fourth straight day of gains on the Hong Kong market seems to have raised the confidence of some investors wanting to secure a bit of profit. Or perhaps the sudden pick-up in activity reflects a fear that the gains wonÆt last.

Either way, Hong Kong saw a second small placement yesterday û alongside International Business MachinesÆ fifth sell-down in Lenovo Group û as an undisclosed institutional investor sold HK$533 million $68 million worth of shares in Bank of China. The deal, which was arranged by UBS, was launched and completed during the two-hour lunch break after the share price gained 3.2% in the morning session. This was possible because the transaction accounted...
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