Date
23 October 2017

Franklin Templeton trims stake in Merchants Bank, paper says

Franklin Templeton Investments has trimmed its holdings in China Merchants Bank Co. Ltd. (03968.HK, 600036.CN) by selling 8.33 million H-shares of the mainland lender last Friday, Securities Times reported Tuesday, citing information from Hong Kong Exchanges and Clearing Ltd. The shares sold were equivalent to a 0.18 percent stake in the bank, it said. The shares were sold at HK$15.113 apiece for a total of HK$126 million (US$20.68 million). Following the sale, Franklin Templeton’s stake in China Merchants Bank has fallen to 7.98 percent, according to the report.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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