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China Daily | Updated: 2013-09-04 07:44
BofA seeks $1.5b from stake sale of Construction Bank
Bank of America Corp is seeking $1.5 billion from the sale of China Construction Bank Corp shares as it ends an eight-year investment in the second-largest Chinese lender by market value. Bank of America, the second-biggest US lender, is offering its remaining 2 billion Construction Bank shares for HK$5.63 (72 US cents) to HK$5.81 each, according to terms obtained by Bloomberg News. That represents a discount of as much as 5.1 percent to Tuesday's closing price in Hong Kong.
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