After signing an agreement with Asia Financial Holdings, a unit of Singapore's state-owned investment company Temasek Holdings, China Construction Bank said its talks with strategic foreign investors are "basically complete", paving the way for its planned overseas listing that could occur before year-end, the Wall Street Journal reported. Asia Financial would invest US$1bn in the bank's planned IPO, giving Temasek a 5.1% stake. Bank of America recently invested US$2.5bn for a 9% stake in the bank, with an additional US$500m to maintain that level after CCB goes public.
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