Temasek buys Bank Of China shares 2 months after sell-down
Temasek Holdings has increased its stake in Bank of China’s Hong Kong-listed shares by 7.07 per cent from 6.96 per cent for HK$288.64 million (S$44.7 million), the Wall Street Journal reported Monday.
Singapore’s sovereign wealth fund’s on-exchange stake purchase on August 22 comes just weeks after its $2 billion (S$2.4 billion) sell-down in the lender.
Temasek bought 97.12 million of Bank of China’s Hong Kong-listed shares for an average price of HK$2.972 per share, which was 18 per cent lower than the price at which it sold the lender’s shares last month, the report said.
Temasek had sold 5.188 billion shares in Bank of China at HK$3.63 each in early July, raising $2.42 billion.
Category: Singapore
