Goldman sell-down in ICBC

Goldman sells $2.5 billion of ICBC shares; Temasek main buyer

Temasek buys $2.3 billion of the shares, increasing its stake above 5% of ICBC's H-share capital, while Goldman Sachs reduces its holdings to 4.99%.
<div style="text-align: left;">
Goldman Sachs’s stake in ICBC drops below 5% after a $2.5 billion sell-down (ImagineChina) </div>
<div style="text-align: left;"> Goldman Sachs’s stake in ICBC drops below 5% after a $2.5 billion sell-down (ImagineChina) </div>

A reverse inquiry from Temasek Holdings over the weekend prompted Goldman Sachs to sell close to half its remaining stake in Industrial and Commercial Bank of China (ICBC) before the opening of Hong Kong trading yesterday. The self-led deal was done at a fixed price and saw the US bank raise about $2.5 billion.

¬ Haymarket Media Limited. All rights reserved.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at subscriptions@financeasia.com. Our subscription team will be happy to assist you.

Share our publication on social media
Share our publication on social media