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 - 01/30
4.41 CNY   +0.23%
01/30 BOC (HK) to Sell NCB at USD6bn
01/29 BOC Hong Kong considering sale of $6 bln bank unit -sources
01/29DJBOC HONG KONG : Reviewing Business for Potential Banking Asset Dispo..
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
09:01a BANK OF CHINA : Former Bank of China Advisor expects China GDP growth to rebound..
01/30 BOC (HK) to Sell NCB at USD6bn
01/29 BOC Hong Kong considering sale of $6 bln bank unit -sources
01/29DJBOC HONG KONG : Reviewing Business for Potential Banking Asset Disposal
01/29DJBOC Hong Kong Exploring Sale of Nanyang, Chiyu Banks, Sources Say
01/28 AIRBUS : BOC Aviation signs for CFM engines
01/27 BANK OF CHINA : Yuan suffers biggest loss since 2008
01/27 BARCLAYS : Targets Chinese Investors to Grow Income
01/27 BANK OF CHINA : Yuan slides in response to dollar, Greek election
01/27 Foreign high-tech vendors may face stricter controls
Advertisement
Chart
Duration : Period :
Bank of China Limited Technical Analysis Chart | 601988 | CNE000001N05 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF