Temasek Sells China Construction Shares

Temasek Holdings, the state investment agency of Singapore, has sold US$255 million worth of shares in China Construction Bank (HK: 0939), or 2% of its holdings. The sale was part of a broader restructuring of the Temasek portfolio, and was done a HK$7.09 per share with Morgan Stanley serving as placement agent. On Monday, Temasek announced that it had sold a US$571.5 million stake in Bank of China (HK: 3988).