Goldman Sachs Sells Last ICBC Shares
(Hong Kong) – Investment bank Goldman Sachs has cashed out on its remaining H-share holdings in Industrial and Commercial Bank of China (ICBC), amid analysts' concerns about loan quality and the economy.
It sold the stock for US$ 1.1 billion on May 20 for HK$ 5.47 to HK$5.5 per share. This represented a 2.5 to 3 percent discount on the closing price that day. The volume of shares accounted for 1.8 percent of ICBC's stock issuance in Hong Kong.
- China's Workers Earned More in 2014, but Percent Raises Shrank
- Big Blast
- China Telecom Confirms Severed Cables Caused Alipay Disruption
- The 'Liquidity Trap' with Chinese Characteristics
- Graphics: Expansion Expectations
- China Uses Drones to Monitor Pollution Problem from Above
- Experts Question Alipay's Backup Plans after Long Glitch
- Parents in Capital Angry at Recruiting Changes for Top Primary Schools
- A Prince's Legacy
- Emissions from Nation's Incineration Plants 'Surpass Standards'
- Sign up to receive our free daily newsletter
- Phone Maker Transsion Catches the African Beat
- Solar Panel Maker Suffering HK Share Sell-Off 'Failed to Repay Loans'
- The Big VIE Question
- South China Sea Issue Is Litmus Test for Sino-U.S. Relationship
- China Unleashes Bonds to Tackle Local Debt
- Gov't Announces Plan to Upgrade Factories over Next Decade
- Rescue in the Works for Indebted Sinosteel
- Residents of Beijing Community Renew Protest against Waste Incineration Plant
- Banks Face Obstacles to Using Biometric Data for ID Purposes
- Party's 'United Front' Meeting Said to Be Aimed at Earning Reform Support