Temasek buys China Construction Bank shares

The purchase involved 4.4 billion shares and as much as $2.8 billion.

A Bloomberg report said, “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."

In August Bank of America said it agreed to sell about half its stake in China Construction Bank for $8.3 billion to bolster capital.

View the report here.

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