Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector news 

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

05/02/2012 | 07:59am US/Eastern

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

React to this article
10/08 YANZHOU COAL MINING : Raises USD407.27 Million in First Tranche of 2015 Super Sh..
10/06 BANK OF CHINA : ordered to release counterfeiters' records
10/05 JOY CITY PROPERTY : granted banking facilities
10/02 BANK OF CHINA : We may become Central-Europe's growth hub
09/30 MoF Sponsored CNY180bn PPP Financing-supported Fund
09/30 BANK OF CHINA : Money transfer self-service channel arrives in China
09/29DJChina Caps Overseas Cash Withdrawals
09/29 BANK OF CHINA : BOCHK issues RMB1bn Panda bonds in China
09/28 BANK OF CHINA : Money transfer self-service channel arrives in China
09/26 BANK OF CHINA : Speech at the China-US Business Roundtable
Duration : Period :
Bank of China Limited Technical Analysis Chart | 601988 | CNE000001N05 | 4-Traders
Income Statement Evolution
More Financials