temasek-divests-570-million-stake-in-bank-of-china

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 on top of that, many investors have already packed up for the year as they see little reason to risk the gains made so far this year amid these kinds of conditions. This is especially...
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