- POSTED: 25 Jul 2014 18:41
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.