Bank of America Corp sells 5.8 percent stake in CCB

Bank of America Corp (NYSE:BAC) has come under a great deal of pressure from U.S. regulators, they need to raise money so have sold a 5.8 percent stake in China Construction Bank Corp. this totaled $7.3 billion.

Bloomberg

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reports that Hopu Investment Management Co. led the investors in to buying 13.5 billion shares from Bank of America from BoA. This sale has now brought the Bank of America closer to the $33.9 billion that regulators say that the bank needs to help increase following stress tests of U.S. banks.

Both UBS AG (NYSE:UBS) and Royal Bank of Scotland Group Plc (LON:RBS) have sold shares in Chinese lenders, which they purchased almost four years ago. Bank of America sold these shares for HK$4.20 apiece, which was 14 percent below yesterday’s closing price. рассказы изнасилования девственниц