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.
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