Goldman dilutes stake in ICBC for $1.1b
Goldman Sachs has divested $1.1 billion worth of shares in Industrial and Commercial Bank of China (ICBC), bringing the total capital it has raised across three sell-downs to $5.26 billion.
Goldman Sachs bought a 4.9% stake in ICBC for $2.58 billion in 2006, before the Beijing-based bank launched its $21.9 billion IPO. Goldman continues to hold a 2.4% stake in ICBC following the latest sell-down....
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