Temasek trims holdings in BOC and CCB

The Singapore investment company sells $2.4 billion worth of shares in Bank of China and $1.2 billion of shares in China Construction Bank through two block trades arranged by Morgan Stanley.

Temasek Holdings last night raised $3.6 billion by selling part of its stake in Bank of China and China Construction Bank the largest sell-down by the Singapore investment company in either bank to date and its biggest divestment in any sector so far this year.

It made the sales through two separate block trades, but since they were in the same sector and Morgan Stanley was the sole bookrunner on both transactions, they were obviously marketed to investors on a combined basis.

According to a source, there was also quite a bit of overlap in demand between the two, with many investors putting in orders for both...

¬ 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