Member access

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

BANK OF CHINA LIMITED (601988)

19
End-of-day quote. End-of-day quote SHANGHAI STOCK EXCHANGE - 03/26
4.31 CNY   +0.23%
07:49a China banks borrow Western tricks to combat spike in bad loans
05:55a BANK OF CHINA : BOC (HK) 2014 Net Profits Up 10.4%
05:55a BANK OF CHINA : BoC 2014 NPL Ratio to 1.18%
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

05/02/2012 | 09:38pm US/Eastern

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

React to this article
Latest news on BANK OF CHINA LIMITED
11:02a BANK OF CHINA : posts 4.8% Q1 profit gain as bad loan levels rise
08:00a China's AgBank gets slowest profit gain since IPO
07:49a China banks borrow Western tricks to combat spike in bad loans
06:00a China's Two Major State-owned Banks Report Slower Profit Rise
06:00a China Construction Bank launches first international RMB-denominated money-ma..
05:55a BANK OF CHINA : BOC (HK) 2014 Net Profits Up 10.4%
05:55a BANK OF CHINA : BoC 2014 NPL Ratio to 1.18%
05:55a BANK OF CHINA : 2014 Net Up 8%
05:27a BANK OF CHINA : Announcement-Departure of Member of Senior Management of the Ban..
05:00a Chinese Bank Launches Fund in Global Expansion
Advertisement
Chart
Duration : Period :
Bank of China Limited Technical Analysis Chart | 601988 | CNE000001N05 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF