Temasek Holdings Decreases Stake in ICBC Amid Market Challenges
Tuesday, 4 June 2024, 15:09
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Temasek Holdings Cuts Stake in ICBC
Temasek Holdings, Singapore's sovereign wealth fund, took a strategic step by trimming its stake in the Industrial and Commercial Bank of China (ICBC) last week. This move signals a response to the challenges faced by state lenders due to the downturn in China's property market.
Reducing Share to Below 5%
As part of its strategic adjustment, Temasek reduced its share in ICBC to less than 5 per cent in just one day.
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