Temasek to sell stake in ICICI Bank, stock down post block deal

Mumbai: Nearly 15.9 million shares in ICICI Bank, India’s No 2 lender, changed hands in a block deal on the National Stock Exchange, data showed.

The shares, amounting to nearly 1.4 percent of the bank’s equity, changed hands at a weighted average price of Rs 924.16 each.The identity of the buyer and seller was not immediately available.

[caption id=“attachment_206795” align=“alignleft” width=“380” caption=“ICICI shares were down 1.7 percent at Rs 921 at 9.26 am today. Reuters”] [/caption]

Singapore state investor Temasek Holdings planned to sell 1.38 percent stake in ICICI Bank, according to a term sheet seen by Reuters on Tuesday, in a deal to raise up to $303 million. ICICI shares were down 1.7 percent at 921 rupees at 9.26 am.

Reuters