Temasek Holdings Pte pays $2.8 billion for China Construction Bank shares

SINGAPORE: Temasek Holdings Pte, Singapore's state-owned investment company, bought shares in China Construction Bank Corp. for as much as HK$21.7 billion ($2.8 billion) about eight weeks after paring its holdings.

Temasek purchased 4.4 billion shares, paying as much as HK$4.94 apiece and increasing its stake to 8.1 percent of the Hong Kong-listed shares, according to a filing to the Hong Kong stock exchange on Monday.

Bank of America said on August 29 that it agreed to sell about half its stake in the Beijing-based lender for $8.3 billion to bolster capital.