Goldman Sachs Is Selling ICBC9 November, 2011, 18:20. Posted by Zarathustra
Tags: Goldman Sachs, ICBC
So after Bank of America sold part of its stake in China Construction Bank (and rumoured to be selling more), here comes Goldman Sachs.
According to Reuters, Goldman is going to sell 2.4 billion shares of Industrial and Commercial Bank of China (ICBC), raising US$1.54 billion. The selling price would be between HK$4.88 to 5.00 per share. ICBC share was closed at HK$5.19 today.
As of 27 October, Goldman Sachs sell-side research rated ICBC as a ‘Buy’, with 12-month price target of HK$6.90. Just saying.