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. Full story
Related:
Temasek seeks $2.4 billion with China bank stake sales - Reuters
Temasek Selling $2.4 Billion in BOC, China Construction - Bloomberg
Temasek to sell $2.4bn stake in two Chinese banks - BBC News
Singapore’s Temasek sells parts of stakes in 2 Chinese banks for $2.5 billion - The Washington Post
Temasek Reduces Stake in 2 Chinese Banks - The New York Times
Temasek gets selective with Chinese banking stakes - The Australian
Temasek 'flips' Chinese bank stocks - International Financing Review
Temasek, Chinese Bank Share Trader - WSJ Blog
$2.48 billion Temasek deal signals long-term investment shift - Emergingmoney.com
