CCB reveals overseas holdings weight

cctv.com 02-24-2006 13:05

China Construction Bank has, for the first time, disclosed just how much of its stake is held by each foreign investor. CCB is the country's first state-owned bank to list overseas, after raising over 9 billion US dollars in the world's biggest IPO last year.

Up to now, CCB has 25.75 percent of its stake held by overseas institutional and individual shareholders. The state currently holds a stake above 74 percent. China Construction Bank introduced two foreign investors last year, which together took 14.1 percent of its shares. The two banks were the Bank of America and Singapore's Temasek. Guo Shuqing, chairman of China Construction Bank said that the government will maintain its controlling stake in the bank. Guo also noted that the Bank of America and Temasek are required to hold their stakes for an agreed lock-up period. CCB is China's second largest lender.

Editor:Chen Zhuo  Source:CCTV.com