The American lender has sold nearly 13.5 billion shares for HK$4.2 per share to buyers including China Life Insurance and its affiliates and BOCI Asia, an investment banking arm of the Bank of China.

The sale reduces Bank of America's (BoA) stake in China Construction Bank (CCB) to 11% with 25.58 billion Hong Kong-listed H shares.

The US government's stress test has revealed that BoA requires nearly $34 billion in additional capital.

A service of YellowBrix, Inc.