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Bank of America to exercise option, buy in 19.6b CCB shares

(chinadaily.com.cn)
Updated: 2008-11-18 07:13

Bank of America will exercise its option and purchase 19.58 billion H shares of China Construction Bank (CCB) from Central Huijin, said CCB in Beijing Monday.

The purchase price per share will be 1.2 times the audited net assets value per share from September 30, 2008, or 2.46 yuan ($0.36). The transaction is scheduled to be completed by November 30 of this year, said CCB.

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