Temasek reduces holdings in Bank of China, China Construction Bank
Temasek Holdings, Singapore’s second-largest sovereign wealth fund, has reduced its holdings in Bank of China and China Construction Bank in order to scale back on its financial sector exposure, raising around $3.6 billion in the process.
Fullerton Financial Holdings, a unit of Temasek, put 5.19 billion shares in Bank of China up for sale, priced at HK$3.60-3.67 apiece, which represented a 4.9-6.7% discount on the previous closing price....
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