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May 26, 2017

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Temasek Holdings raises stake in China Construction Bank to 8.1%

SINGAPORE--Temasek Holdings has increased its stake in China Construction Bank to 8.10 percent from 6.27 percent, according to the Singapore investment firm and a filing made to the Hong Kong stock exchange.

A spokesman for the state-linked firm confirmed Temasek's stake in the Chinese lender has been raised but declined to give any further details of the transaction.

Temasek Holdings bought 4.4 billion of the Chinese bank's Hong Kong-listed shares and paid as much as HK$4.94 (US$0.63) per share, according to the filing by the Singapore firm made on Sept. 1.

The filing made no mention of the party that sold the shares to Temasek.

Last Monday, troubled U.S. financial giant Bank of America announced it would sell about half of its 10-percent stake in China Construction Bank for around US$8.3 billion in cash to "a group of investors" without identifying the parties.

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