Allianz and American Express on Tuesday sold a combined $1.9bm of shares in ICBC, the world’s largest lender by market cap, as a lockup on half their stakes ended, reports Bloomberg.The sales, to private investors, were made at HK$3.86 apiece, a 4% discount to Monday’s closing price. US and European banks have sold $7.9bn of shares in China’s lenders this year, including Tuesday’s sales. ICBC shares rose as much as 8% in HK trading.

This entry was posted by Gwen Robinson on Tuesday, April 28th, 2009 at 5:01 and is filed under Capital markets. Tagged with allianz, amex, icbc. Edit this entry.