亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线

Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
Bank of America sells US$7.3b CCB stake - source
Adjust font size:

Bank of America (BofA)?sold US$7.3 billion worth of shares in China Construction Bank Wednesday, according to a source, just days after a United States government "stress test" found the struggling US bank needed to find US$34 billion worth of capital.

BofA unloaded the entire lot of 13.5 billion CCB shares it was allowed to sell, the source said, at HK$4.20 each, or a 14.3-percent discount to their Monday close.

The group of buyers included a unit of China Life Insurance Co, Singapore state investment group Temasek Holdings and China's Hopu Investment Management Co, the source said. The source was directly involved in the deal but was not authorized to speak officially.

The sale cut BofA's stake in the world's second-largest bank by market value to about 10.6 percent.

A lock-up period on the block of shares sold expired last Thursday, and since then equity capital markets bankers had hit the phones to line up investors, hoping to get a mandate and a fee from finding buyers.

But the sale did not involve any of the major investment banks that worked on similar stock sales, with the source saying the block of shares was a "principle-to-principle" negotiated deal.

A US$1.2-billion block of shares briefly placed in the market by an unnamed CCB shareholder early yesterday was part of BofA's share sale, said the source. The bookrunner of that placement was brokerage BOCI, according to a term sheet obtained by Reuters.

CCB's Hong Kong-listed shares closed up 1.6 percent at HK$4.96 yesterday after falling on Monday.

"Since the placement has been expected, I would see a slightly positive impact from the share sale as the overhang was removed," said Michael Tam, an analyst at South China Research. "Buyers like China Life and Temasek are likely to hold the shares as longer term investments, especially as they bought the shares at a very attractive price below the stock's fair value."

BofA had been expected to sell shares in CCB since the US government ordered it to find new capital following its "stress test" of 19 large American banks.

(Shanghai Daily May 13, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- Bank of America might sell part of CCB stake
- Bank of America sells CCB stake
May 7-8 Brussels China-EU high-level trade talks

May 17-22 Hong Kong Heilongjiang-Hong Kong Trade Cooperation Seminar
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
    1. <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>
      <thead id="556nl"></thead>

      1. <em id="556nl"><tt id="556nl"></tt></em>
        <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>

        <ul id="556nl"><small id="556nl"></small></ul>
        1. <thead id="556nl"></thead>

          亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线 人妻无码久久影视 日韩久久久久久久久久久久 精品国产香蕉伊思人在线 无码国产手机在线a√片无灬 91在线视频无码