Temasek launches $3b Chinese banks stake sale

[Wildfire]

Wednesday, May 02, 2012 (Reuters)

HONG KONG - Singapore state investor Temasek Holdings launched a block sale worth about US$2.4 billion (S$2.98 billion)
in shares of two of China's largest banks, IFR reported. Temasek offered about US$1.2 billion (S$1.49 billion) in Hong Kong-listed
shares of China Construction Bank and another US$1.2 billion of Bank of China, IFR said, citing term sheets of the deals.

Guess ... make or break????

 

[Narong Wongwan]

Retirement age raise again?

 

[Leepotism]

Temasek To Raise Up To US$2.5 Billion Via Selling Shares of BOC, CCB H Shares - Term Sheet

05/02/2012 | 07:59am
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

 

[kiss]

My guess... they see the storm is coming. Take some money off the table early.. esp big stake.

Our kacang puteh stake of few hundred lots... one press sell button... settled !