BofA transfers CCB Equity stake to Temasek

Singapore Temasek Holdings will take the Bank of America at CCB (601939.　　SH/00939.HK) shares all shares in the shares trading. The Bank of America has agreed to sell 1.79 billion shares of BofA's rights to a subsidiary of Temasek, the construction Bank said in a notice to the HKEx late Thursday (November 11).　　Temasek pledged not to sell the US bank rights issue and not to sell the H-shares within three months after exercising the shares.　　CCB this "a+h" share allotment is estimated to be about 61.7 billion yuan, to the proportion of 0.7 shares per 10 shares to all shareholders, the total number of shares can be 16.358 billion shares, of which a shares can be put into the number of shares of 630 million shares, H shares can be allocated shares of 15.728 billion shares. Up to now, BofA has directly held 25.58 billion shares of the CCB, accounting for about 10.95% of the total equity stake before the CCB. Bank of America to subscribe for 1.79 billion shares of CCB, to be funded 6.75 billion yuan. BofA recently reported a 7.3 billion-dollar net loss in the third quarter.　　The industry earlier expected BofA would not participate in the placement of CCB. BofA and Temasek were the second to third largest shareholders of CCB.　　BofA 2009 shareholding in the proportion of CCB has reached 19.13%, since then gradually reduce. Temasek currently owns 13.207 billion shares of CCB, accounting for 5.65%. The shares will rise from 5.65% to 6.37% after Temasek's share rights.　　BofA is not involved in a rights issue, and its shareholding will fall to 10.23%. Temasek can be equipped with about 920 million shares, plus the purchase of BofA 1.79 billion shares rights, Temasek can be combined with 2.71 billion shares.　　Temasek is required to buy a total allotment of about HK $11.87 billion, according to the 4.38 Hong Kong dollar allotment price of its H shares. CCB shares continued to suspend trading today, falling 3.76% per cent to HK $7.43/share.