Singapore’s state investment agency said it sold shares in two China mainland banks this week, and media reports said the sales netted Temasek US$800 million in proceeds. Temasek sold 280 million shares in China Construction Bank on Wednesday, representing less than two percent of its holding in the bank, a company spokeswoman said yesterday.

 

Two days earlier, Temasek confirmed it sold 1.08 billion shares in Bank of China for HK$4.45 billion (US$570 million), reducing its stake in the mainland lender from 15.5 percent to 14.2 percent.

 

(Shanghai Daily November 30, 2007)