Goldman completes third partial exit from ICBC
Goldman Sachs has completed another partial exit from its holding in Industrial and Commercial Bank of China (ICBC), selling $2.5 billion worth of H-shares. Temasek Holdings said it picked up $2.3 billion of the block sale, which amounts to a 1.3% stake in the bank. The remaining shares were reportedly sold to other institutional investors.
Goldman priced the transaction at HK$5.05 per share, a 3.1% discount to Friday's closing price. ICBC trades in Hong Kong (H-shares) and Shanghai (A-shares). At the end of last year, Goldman and its subsidiaries...
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