CNNMoney.com, 7 Jan 2009
HONG KONG -(Dow Jones)- The Li Ka Shing Foundation is selling two billion shares in mainland lender Bank of China Ltd. (3988.HK) in a placement that could raise up to US$524 million for the charitable foundation owned by Hong Kong's richest man, according to a term sheet seen by Dow Jones Newswires and a person familiar with the situation.
The two billion Hong Kong-listed H shares are being placed to investors at HK$ 1.98-HK$2.03 each, a discount of between 5% and 7.5% to their Wednesday closing price of HK$2.14, according to the term sheet.
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Foundation Sells Bank of China Shares - The Wall Street Journal, 7 Jan 09
