8 Bank of Double wall corrugated pipe production line America likely to raise stake in CCB Bank of Double wall corrugated pipe production line America likely to raise stake in CCB
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Bank of America likely to raise stake in CCBPublished: 14 Nov 2008 02:00:01 PST Nov. 14, 2008 (China Knowledge) — Bank of America Corp, the second largest lender in the United States, may raise its stake in China Construction Bank (CCB)<601939><939>, one of the Big Four state-owned banks in this country, sources reported. According to the report by the local magazine Caijing on Friday, Bank of America may raise stake in CCB at the price of RMB 2.46 per share, or 1.2 times of the Chinese lenders’ book value, in addition to the 10.75% holding it owns at present. CCB is reportedly preparing its third quarter financial report under the international accounting standards prior to the share sale. Bank of America has also the option to raise its stake in CCB up to 19.9%. The Chinese lender booked net profit of RMB 25.58 billion in the third quarter, representing a year-on-year increase of 12%. Copyright © 2008 http://www.chinaknowledge.com Send feedback or comments to: news@chinaknowledge.com For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related Topics China News 弹簧 kitchen cabinetry 乳化机 深圳罗湖搬家 washing machine spare parts kitchen cabinets 搅拌机 bldc motor