Member access

4-Traders Homepage  >  Shares  >  SHANGHAI STOCK EXCHANGE  >  Bank of China Limited    601988   CNE000001N05

BANK OF CHINA LIMITED (601988)

16
End-of-day quote. End-of-day quote SHANGHAI STOCK EXCHANGE - 07/31
2.71 CNY   +1.12%
25m ago Novatek says sanctions strain funding for Yamal LNG
2d ago BANK OF CHINA : Cultural exchange builds bilateral bridge between China, US
2d ago BANK OF CHINA : BOC, ASX Team Up in CNY Clearing System
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Temasek Raises US$2.48 Billion Through BOC, CCB Share Sales - Sources

05/02/2012 | 08:38pm US/Eastern
Recommend:
0

Singapore state-investment firm Temasek Holdings raised US$2.48 billion by selling portions of stakes it holds in Chinese lenders Bank of China Ltd. (3988.HK) and China Construction Bank Ltd. (0939.HK) via placements, people familiar with the situation said Thursday.

Temasek sold 3.079 billion shares in Hong Kong-listed Bank of China at HK$3.13 each, representing the bottom end of a indicative price range of HK$3.13 to HK$3.18, or a 4% discount to Bank of China's Wednesday closing price of HK$3.26.

Also, Temasek sold 1.6 billion Hong Kong-traded shares in China Construction Bank at HK$5.99 each, representing the bottom end of a indicative price range of a HK$5.99 to HK$6.10, or a 2.8% discount to the stock's Wednesday closing price of HK$6.16.

China Construction Bank is the nation's No. 2 largest lender by assets, while Bank of China is No. 4.

Temasek is subject to a 90-day lock-up period, meaning the company isn't allowed to sell shares in either bank during that time, according to term sheets seen by Dow Jones Newswires earlier. Bank of America Merrill Lynch and Morgan Stanley are handling the placements.

The Hong Kong-traded shares of Bank of China have risen 14% so far this year, while those of China Construction Bank are up 13.7%. Both banks are also listed in Shanghai.

-By Prudence Ho and P.R. Venkat, Dow Jones Newswires; 852-2802-7002; prudence.ho@dowjones.com, venkat.pr@dowjones.com

Recommend :
0
React to this article
Latest news on BANK OF CHINA LIMITED
25m ago Novatek says sanctions strain funding for Yamal LNG
2d ago BANK OF CHINA : Cultural exchange builds bilateral bridge between China, US
2d ago BANK OF CHINA : BOC, ASX Team Up in CNY Clearing System
4d ago China's anti-graft drive is making state media bolder
6d ago CHINA CONSTRUCTION BANK : Hurdles on path to internationalization
7d agoDJAgricultural Bank of China to Tweak Mortgage Policy
07/23 BANK OF CHINA : eyes Bryant Park office lease
07/23DJASIA MARKETS : Hong Kong Stocks Close At 2014 High
07/23 Alibaba, 7 Banks Provided Unsecured Credit Loans to SMEs
07/23 BANK OF CHINA : BOC Lends Money to PDVSA from Venezuela
Advertisement
Chart
Duration : Period :
Bank of China Limited Technical Analysis Chart | 601988 | CNE000001N05 | 4-Traders
Income Statement Evolution
Bank of China Limited : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF