Bank of America Corp (BAC.N) is selling 13.1 billion shares of China Construction Bank (0939.HK) to a group of investors for $8.3 billion of cash, the bank said on Monday. The deal represents about half of Bank of America's holdings in CCB, reducing its stake to about 5 percent of the Chinese lender's outstanding shares.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 3.48% or $0.2701/share to $8.03. In the past year, the shares have traded as low as $6.01 and as high as $15.31. On average, 235951008 shares of BAC exchange hands on a given day and today's volume is recorded at 69994192.
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