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National Social Security Fund sells ICBC shares
March 8, 2011 / 1:39 AM / 7 years ago

National Social Security Fund sells ICBC shares

HONG KONG, March 8 (Reuters) - The National Social Security Fund has sold HK$243.6 million ($31.3 million) worth of H shares in Industrial & Commercial Bank of China Ltd (1398.HK)(601398.SS) (ICBC), reducing its stake in the Chinese lender to 17.99 percent, a disclosure from the Hong Kong bourse showed.

The National Social Security Fund, ICBC’s largest shareholder, sold 40.1 million Hong Kong-listed shares in the world’s largest bank by market capitalisation at HK$6.074 each on March 1, according to the disclosure.

It marks the second time the fund has reduced its stake in ICBC after selling 15.296 million H shares at HK$6.30 each on April 9 last year, reducing its holding to 18.99 percent, data from the disclosure showed. (US$1=HK$7.78) (Reporting by Donny Kwok; Editing by Chris Lewis)

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