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Goldman Sachs increases share proportion in ICBC


2008-12-24

On 17th of December, Goldman Sachs Group increased its share proportion in the Industrial and Commercial Bank of China (ICBC) by buying 20.529 million of the ICBC's shares on the Hong Kong Exchanges and Clearing Ltd.
 
The shares were bought at a price of HK$ 4.309 to HK$4.35 per share with a total investment of about HK$88 million and thus Goldman Sachs’ share proportion was increased from 19.99 percent to 20.01 percent.
 
Goldman Sachs, the overseas strategic investor of ICBC, invested about USD 2.58 billion to purchase 16.48 billion shares of the bank in 2006, at a price of RMB 1.26 per share.
 
Source: Sina Finance


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