Nov. 9 (Bloomberg) -- Goldman Sachs Group Inc. raised $1.1 billion selling shares of Industrial & Commercial Bank of China Ltd., according to two people familiar with the matter.
Goldman Sachs sold 1.75 billion shares at HK$4.88 each, the people said, asking not to be identified because the details are still private. That is 6 percent below ICBC’s closing price in Hong Kong.
Goldman Sachs had earlier offered 2.4 billion shares at a range of HK$4.88 to HK$5, according to terms of the transaction obtained by Bloomberg News.
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