Date
20 October 2017

Bank stocks see frequent large-block transactions, paper says

Chinese banks have seen large-block transactions quite frequently in recent weeks on the nation’s stock exchanges, China Securities Journal reported Thursday, citing stock exchange data. Agricultural Bank of China Ltd. (01288.HK, 601288.CN) saw a block trade worth 829 million yuan (US$136.50 million) on Wednesday. The transaction price was 2.79 yuan per share, representing a premium of 9.84 percent over the prevailing retail market price. In early December, China Merchants Bank Co. Ltd. (03968.HK, 600036.CN) recorded nine large-block transactions with premium of 9.93 percent and China Minsheng Banking Corp. Ltd. (01988.HK, 600016.CN) saw two large block transactions with low premium. All the deals were between institutional investors, the report noted.

– Contact HKEJ at [email protected]

MY/AC/RC

 

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