Singapore state investor Temasek boosts stake in China's ICBC

September 23, 2015 10:54 AM

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SINGAPORE, Sept 23 Singapore state investor Temasek Holdings has increased its stake in Industrial and Commercial Bank of China (ICBC) to 10 percent by acquiring HK$141 million ($18 million) of shares in the largest Chinese bank.

Temasek, which previously owned 9.97 percent in ICBC, bought another 30 million ICBC shares at an average price of HK$4.696 a share, according to a filing on the Hong Kong stock exchange on Wednesday.

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