ICBC block

Goldman sells $1.1 billion ICBC stake

The deal is priced at a 6% discount and downsized slightly from the original target as markets tumble during the bookbuilding.

Goldman Sachs last night raised HK$8.55 billion ($1.1 billion) from a sell-down of its stake in Industrial and Commercial Bank of China. This is the third time Goldman has reduced its holding since it invested in the Chinese bank in 2006 — and it could have chosen a better day to do so.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media