Singapore sovereign investor Temasek has raised $3.6 billion through the sale of its stake in two Chinese banks, Reuters reports. Temasek sold about 1.5 billion Hong Kong-listed shares of China Construction Bank and 5.2 billion shares of Bank of China.
The transaction has reduced the investor’s stake in both the banks to about 6%. Morgan Stanley was appointed as the sole bookrunner of the deal, adds FinanceAsia.
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