Goldman Sachs Group Inc. (GS) raised $1 billion by selling further its stake in Chinese lender Industrial & Commercial Bank of China Ltd., the Wall Street Journal reported, quoting two people with direct knowledge of the matter.
The U.S. bank sold 1.35 billion shares of the Hong Kong-listed company in a block trade at HK$5.77 per share, representing a 3 percent discount to the Chinese bank's closing price of HK$5.95 on Monday.
Goldman bought a 4.9 percent stake in ICBC in April 2006 for $2.58 billion, before the bank was listed in Hong Kong. Including the latest sale, Goldman has raised $8.6 billion by selling its shares in ICBC. It still has a small stake remaining in the Chinese bank.
GS slid 0.2 percent on Monday to close at $144.15.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.