Temasek/CCB

Temasek confirms $2.8 billion CCB investment

The Singapore investment company bought about one-third of the China Construction Bank shares that Bank of America Merrill Lynch sold through an $8.3 billion private transaction a week ago.
<div style="text-align: left;">
Temasek has helped BoA Merrill with its CCB investment three times (AFP)
</div>
<div style="text-align: left;"> Temasek has helped BoA Merrill with its CCB investment three times (AFP) </div>

Temasek Holdings confirmed in a filing with the Hong Kong stock exchange on Monday that it bought part of Bank of America Merrill Lynch’s stake in China Construction Bank, sold through a private transaction a week ago.

The Singapore investment company said it bought 4.4 billion of the H-shares, or about one-third of the 13.1 billion shares that BoA Merrill sold, at a price of HK$4.94 apiece. This means it spent about $2.8 billion. The acquisition increased its share of the Chinese lender’s H-share capital to 8.1% from 6.27%.

Temasek’s involvement in the $8.3 billion sell-down was reported by some international media the day after...

¬ 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