Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

End-of-day quote. End-of-day quote  - 05/27
3.24 CNY   +0.31%
05/26DJChina's Finance Ministry Sells Debut Offshore Renminbi Bond
05/26 Four Chinese banks among world's 10 largest
05/26 China Occupied 4 of Top 10 Banks
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Temasek To Raise Up To US$2.5 Billion Via Selling Shares of BOC, CCB H Shares - Term Sheet

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/02/2012 | 01:59pm CEST

Singapore state-investment firm Temasek Holdings Pte. Ltd. is seeking to raise up to US$2.5 billion by selling its stakes in Chinese lenders Bank of China Ltd. (3988.HK) and China Construction Bank Ltd. (0939.HK) via placements, according to term sheets seen by Dow Jones Newswires.

Temasek unit Fullerton Financial Holdings Pte Ltd. plans to sell 3.079 billion shares in Hong Kong-listed Bank of China at a price range of HK$3.13 to HK$3.18 each, according to the first term sheet, raising up to US$1.26 billion. The sale price represents a 2.5% to 4.0% discount to Bank of China's Wednesday closing price of HK$3.26.

Also, Cairnhill Investments (Mauritius) Pte. Ltd., a unit of Temasek, is selling 1.6 billion Hong Kong-traded shares in China Construction Bank at a HK$5.99 to HK$6.10 price range, according a second term sheet, or up to US$1.25 billion. The price range reflects a 1.0% to 2.80% 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 the period, according to the term sheets. Bank of America Merrill Lynch and Morgan Stanley are handling the share 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, Dow Jones Newswires; 852-2802-7002; prudence.ho@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on BANK OF CHINA LIMITED
05/26DJChina's Finance Ministry Sells Debut Offshore Renminbi Bond
05/26 Four Chinese banks among world's 10 largest
05/26 China Occupied 4 of Top 10 Banks
05/26 Four Chinese banks among world's 10 largest
05/24 GERRY GRIMSTONE : Chinese banks will fill vacuum as Europeans retreat - Barclays..
05/24DJChinese Suitors Pressured for Guarantees -- WSJ
05/24DJINGRAM MICRO : Wary Takeover Targets Wrest Fees, Guarantees From Chinese Suitors
05/23DJA Rare Look Inside China's Central Bank Shows Slackening Resolve to Revamp Yu..
05/23 Powerlong Real Estate Gains USD120mn Loans
05/23 BANK OF CHINA : BOCHK launches IPO subscription and financing offers for BOC Avi..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials