TEMASEK Holdings Pte is selling about US$1.2 billion of shares in both China Construction Bank and the Bank of China in Hong Kong, according to term sheets obtained by Bloomberg News.

Fullerton Financial Holdings Pte, a Temasek unit, is selling about US$1.2 billion of BOC shares at HK$3.13 to HK$3.18 (40 to 41 US cents) apiece in Hong Kong, the terms showed yesterday. Cairnhill Investments Mauritius Pte and Crescent Investment Mauritius Pte, two other businesses owned by Temasek, are together selling about 1.6 billion shares in CCB at HK$5.99 to HK$6.10 each to raise about US$1.2 billion.

Source:shanghaidaily