Goldman Sachs will sell shares at HK$5.05 each, said the people, who declined to be identified. Temasek Holdings Pte said today it will buy 3.55 billion ICBC shares from Goldman Sachs and hold 5.3 percent of the lender’s Hong Kong-listed stock after the purchase.

Shares of ICBC, the world’s largest lender by market value, have rallied 49 percent since hitting a 2 ½-year low in October as concern that Europe’s debt crisis would lead to a further economic slowdown in China eased. ICBC widened its lead as the world’s most profitable lender last month after reporting a 17 percent increase in fourth-quarter net income.

This is the fourth time that New York-based Goldman Sachs pares the ICBC stake it first purchased in 2006. The U.S. securities firm in November raised $1.1 billion selling shares in ICBC at HK$4.88 each.

To contact Bloomberg News staff of this story: Fox Hu in Hong Kong at fhu7@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

http://www.bloomberg.com/news/2012-04-16/goldman-sachs-said-to-raise-2-5-billion-in-icbc-sale.html

• U.S. Said to Seek More Than $10 Billion Penalty From BNP   (2014-05-30 09:35:40)
• Apple Agrees to Buy Beats Electronics for $3 Billion   (2014-05-29 09:42:30)
• JPMorgan’s Pinto Shuffles Deputies, Names Hernandez Unit Co-Head   (2014-04-08 08:55:29)
• JPMorgan Folds London Whale Office Into Another Unit   (2014-04-04 09:51:48)
• JPMorgan Folds London Whale Office Into Another Unit   (2014-04-04 09:51:29)
• JPMorgan Folds London Whale Office Into Another Unit   (2014-04-04 09:51:17)
• China Construction Bank Profit Beats Estimate on Margins   (2014-03-31 10:50:22)
• Madoff Aides Convicted in $17.5 Billion Ponzi Trial After Decades Working for Firm   (2014-03-25 13:24:38)
• Fed Revises Worst-Case Stress-Test Results for Biggest Banks   (2014-03-22 09:45:32)
• BofA, Citigroup, Credit Suisse Sued by FDIC Over Libor   (2014-03-15 10:32:09)