China Minsheng Banking Corporation
From Taighde
China Minsheng Banking Corporation (Minsheng Bank) is the first private bank located in China. Temasek Holdings owned a stake until, according to press accounts, sold all of over the course of six months which finished in March 2009. Temasek paid $110 million in October 2004 for a 4.55% stake. It held 472 million shares. Due to a capital raising by Minsheng, Temasek stake decreased to 3.26%. Temasek started selling its stake in August 2008 and completed it by March 2009.
Temasek might have had to sell the stake at the request of Chinese regulators, who said that Temasek can only hold stakes in two Chinese banks. Temasek holds stake in Bank of China and China Construction Bank. Temasek held the stake though its subsidiary Fullerton Financial Holdings.
