Temasek buys China Construction Bank shares for US$2.8 billion after paring down its holdings 8 weeks ago

Sept. 6 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state-owned investment company, bought shares in China Construction Bank Corp. for as much as HK$21.7 billion ($2.8 billion) about eight weeks after paring its holdings. Temasek purchased 4.4 billion shares of the Chinese lender, paying as much as HK$4.94 a share and increasing its stake to 8.1 percent from 6.27 percent, according to a filing to the Hong Kong stock exchange yesterday. Bank of America Corp. said Aug. 29 that it agreed to sell about half its stake in the Beijing- based lender for $8.3 billion to bolster capital.

Full article: http://singaporenewsalternative.blogspot.com/2011/09/tema...

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