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Temasek sells off remaining shares in New China Life

Investment firm Temasek Holdings says it has sold off its remaining shares in China's third-largest life insurer.

SINGAPORE: Investment firm Temasek Holdings said on Friday (July 25) that it has sold off its remaining shares in New China Life Insurance.

The comment followed a report that Temasek had sold 78 million shares in China's third-largest life insurer at HK$27.45 each, raising S$2.14 billion.

Shares of New China Life Insurance have rallied over the past year, jumping by more than 25 per cent. The counter was under pressure on Friday, closing about 4 per cent in the red.

 

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