Temasek Sells $3.63 Billion of Bank of China, CCB Shares
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Temasek Holdings Pte raised HK$28.2 billion ($3.63 billion) selling stakes in China Construction Bank Corp. and Bank of China Ltd., hours after Moody’s Investors Service said the credit outlook for lenders may sour.
Singapore’s state-owned investment company sold about HK$18.8 billion of stock in Bank of China, the nation’s third-largest lender by assets, and about HK$9.4 billion of second-ranked Construction Bank at discounts of at least 3 percent yesterday, according to data compiled by Bloomberg.