Wednesday, May 2, 2012

Temasek to sell $2.4bn stake in two Chinese banks

Chinese yuan notes

Singapore's Temasek Holdings is seeking to sell $2.4bn (£1.3bn) worth of its shares in Bank of China and China Construction Bank, two of China's biggest lenders.

The move comes as shares of the two banks have risen almost 14% this year.

However, profit growth at Chinese lenders has slowed recently amid tight controls on lending in the country.

This is the second time in 10 months that Temasek has sold shares in the two banks.

It offloaded $3.6bn worth of shares in the two firms in July last year.



Source & Image : BBC

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