Bloomberg News

Goldman Sachs May Price ICBC Shares at Lower End of Range

November 09, 2011

Nov. 9 (Bloomberg) -- Goldman Sachs Group Inc. may price its sale of shares in Industrial & Commercial Bank of China Ltd. at the low end of the proposed range of HK$4.88 to HK$5 each, according to a person familiar with the sale.

That’s a discount of as much as 6 percent to Beijing-based ICBC’s closing price in Hong Kong today. Goldman Sachs had earlier offered 2.4 billion shares, according to terms of the transaction obtained by Bloomberg News.

--Editors: Julie Alnwick, Jacqueline Simmons

To contact the reporter on this story: Zijing Wu in London at zwu17@bloomberg.net

To contact the editors responsible for this story: Jennifer Sondag at jsondag@bloomberg.net; Jacqueline Simmons at jackiem@bloomberg.net


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