China Construction Bank
From Taighde
The China Construction Bank (CCB) (simplified Chinese: 中国建设银行; traditional Chinese: 中國建設銀行; pinyin: Zhōngguó Jiànshè Yínháng; often abbreviated as 建行) is one of the 'big four' banks in the People's Republic of China. They are Agricultural Bank of China, Bank of China, China Construction Bank, and Industrial and Commercial Bank of China. CCB was founded on October 1, 1954 under the name of "People's Construction Bank of China" (中国人民建设银行; Zhōngguó Rénmín Jiànshè Yínháng), and later changed to "China Construction Bank" on March 26, 1996. Guo Shuqing is the Chairman of the CCB.
Central Huijin, a unit of the China Investment Corporation, owns a 60.46% stake in the bank. In January 2009 the China Investment Corporation increased the holdings in the bank as part of a broader domestic investment plan.[1] Central Huijin's stake shrunk at some point. In October 2011, it was at 59.31% before it was increased to 60.46% as Central Huijin purchased $1.75 billion worth of shares after Bank of America divested themselves of shares. [2]
Temasek Holdings owns more than 9.42% of the bank.
Temasek Holdings
Temasek Holdings bought shares in China Construction Bank 2005 though its subsidiary Fullerton Asia Financial Holdings. It held 13.5 billion shares or 6.04% of total shares. It could not start selling its shares until after August 29, 2007. It could sell up to 4.95 billion shares.
On November 28, 2007, it sold some of its shares. It sold 280 million shares at $7HK.09 each, which was a 4.96% discount to the bank's closing price of $7HK.46. Morgan Stanley arranged the sale. Temasek made HK$1.99 billion from this sale.
In November 2010, the CCB offered current investors a chance to purchase extra shares during a rights offering. The largest private investor in the CCB, Bank of America. chose not to participate. Temasek purchased BOA's share plus the shares that Temasek were able to get based on their previous holdings. [3][4]
On July 5, 2011, Temasek sold off $1.2 billion worth of shares in the bank. Temasek sold off 2.4 billion worth of shares in Bank of China. [5] Temasek still held 6.2% stake in the bank.
In August 2011 and then again in November, Temasek purchased additional shares from Bank of America. Temasek joined a Chinese consortium both times. The 1st consortium consisted of the State Administration of Foreign Exchange, National Social Security Fund, and Citic Securities with a fund from Qatar also joining. Seatown Holdings, a unit of Temasek, also took part. [6][7] After the 1st purchase from BOA, Temasek had control of 8.10% of total outstanding shares.
During the 2nd consortium purchase, Temasek purchase an additional 3.77 billion shares, which gave the fund a 9.42% stake.[8] [9][10]
Government Pension Fund of Norway
The Government Pension Fund of Norway held a 0.15% stake in the company as of December 31, 2009. The stake is valued at $291,276,927.
| Date | Ownership | Voting | Value |
|---|---|---|---|
| December 31, 2009 | 0.15% | 0.15% | $291,276,927 |
| ||||||||||||||||||||
| ||||||||||||||
