Reuters: Financial Services and Real Estate: Temasek prices China bank blocks at bottom -term sheet

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Temasek prices China bank blocks at bottom -term sheet May 3rd 2012, 00:48 HONG KONG | Wed May 2, 2012 8:48pm EDT HONG KONG May 3 (Reuters) - Singapore state investor Temasek Holdings has raised $2.49 billion by selling part of its stakes in two of China's large banks, according to a term sheet seen by Reuters on Thursday. Temasek sold about 1.61 billion China Construction Bank shares at HK$5.99 each and some 3.08 billion Bank of China shares at HK$3.13 per share, the term sheet showed. Both the block deals were sold at the bottom of an indicative range. (Reporting by Denny Thomas; Editing by Jonathan Hopfner)

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