Temasek gets OK for Mingsheng stake

Banking regulators approved the sale of a 4.55% stake in the China Mingsheng Bank to Singapore government-owned Temasek Holdings. Temasek is buying the stake in China's first privately-owned lender from state-owned China National Coal Group for an undisclosed fee. The sale comprises 236.1m so-called legal person shares, which are non-tradable stocks held by state-owned companies and usually priced at a discount to traded shares. At tradable value, analysts said the stake would be worth about US$173m.