HONG KONG May 20 Goldman Sachs launched
on Monday a sale of about $1.1 billion worth of Hong Kong-traded
shares in Industrial and Commercial Bank of China,
offering to sell its entire remaining stake in the world's
Goldman offered the shares in ICBC in a range of HK$5.47 to
HK$5.50, equivalent to a discount of up to 3 percent to Monday's
close of HK$5.64, IFR reported, citing a term sheet of the deal.
The Monday sale will mark the end of an era for the U.S.
bank, which has held a stake in ICBC since 2006, said a source
with direct knowledge of the selldown.
The sale would be Goldman's third in about one year, after
the New York-based investment bank raised $2.5 billion from a
partial selldown of ICBC in April of 2012, most of which was
bought by Singapore state investor Temasek, and another
in January of 2013 worth $1 billion.