Source:
https://scmp.com/business/banking-finance/article/1302795/us-bank-exit-ccb-us15b-share-sale
Business/ Banking & Finance

US bank to exit CCB in US$1.5b share sale

China slowdown and need for cash at home seen as factors in Bank of America's plan to sell its entire stake in the mainland's No 2 lender

U.S. bank to exit CCB in US$1.5b share sale

Bank of America yesterday launched a US$1.49 billion share sale in China Construction Bank to offload its entire stake in China's second-largest bank by market value.

Exiting its eight-year investment, Bank of America is offering its remaining two billion Hong Kong-listed shares in Construction Bank for HK$5.63 to HK$5.81 each - a discount of up to 5.1 per cent to the stock's closing price yesterday.