china-construction-bank-block-raises-52-million

China Construction Bank block raises $52 million

A handful of investors snap up the shares during the lunchtime break.

An undisclosed investor yesterday sold HK$405 million $52 million worth of shares in China Construction Bank CCB. The UBS-arranged block trade, which was launched during the lunchtime break, was said to have been snapped up by a handful of Asian investors in less than a minute.

A total of 100 million shares were sold at a fixed price of HK$4.05 each, representing a 2.9% discount to the morning session closing price of HK$4.17. CCB's shares gained 4.8% on Friday, and even after yesterday's sale, they continued to rise -- finishing 2.9% higher at HK$4.20.

The speed at which the deal was completed and the tight discount was...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222