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China’s NSSF Trims ICBC Stake

China’s National Social Security Fund has offloaded shares in Industrial and Commercial Bank of China.

China’s National Social Security Fund (NSSF) has offloaded shares in Industrial and Commercial Bank of China (ICBC), Hong Kong Standard reports. The state-owned pension fund offloaded 35 million shares on August 30 with a total value of $23.17 million.

On August 26, the NSSF sold ICBC’s shares worth $5.68 million. After selling 119.1 million of shares, the NSSF now owns a 15.95 percent interest in ICBC, down from 16 percent.

Click here for the story from Hong Kong Standard.

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