Goldman exits ICBC with $1.1bn block; bags 6.7% share in Keppel Reit

20 May 2013

Goldman Sachs has sold the last of its stake in Industrial and Commercial Bank of China, raising $1.1bn in a block sale.

The bank last sold a block of ICBC shares in January and but unlike that deal, which launched with a fixed price of HK$5.77, this new sale offered investors an indicative range of HK$5.47 to HK$5.50 – a discount of 2.5% to 3% to Monday night’s closing price.

Although ...

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