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 - 12/19
3.54 CNY   +2.31%
2d agoDJBOC Aviation to Buy Two More Boeing 737-800 Jets, Taking Total Or..
4d ago BANK OF CHINA : Oaktree Capital Management Invests Big Money in Chin..
5d ago Major 4 Banks Have More CNY Loans, Deposits in Nov
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
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
Latest news on BANK OF CHINA LIMITED
2h ago BANK OF CHINA : sees high probability of further rate cut in 2015
2h ago BANK OF CHINA : Deposit insurance speeds up China's bank reform
2h ago BANK OF CHINA : BOC sees high probability of further rate cut in 2015
1d ago BANK OF CHINA : RM550b trade target achievable'
2d agoDJBOC Aviation to Buy Two More Boeing 737-800 Jets, Taking Total Order to 82
2d ago Internet banking a game changer
3d ago WESTERN UNION : Bank of China to Offer Western Union Money Transfer® Service
4d ago BANK OF CHINA : Oaktree Capital Management Invests Big Money in China
5d ago Major 4 Banks Have More CNY Loans, Deposits in Nov
6d ago China financial firms seek control deals in outbound M&A
Advertisement
Chart
Duration : Period :
Bank of China Limited Technical Analysis Chart | 601988 | CNE000001N05 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF