Goldman launches China's ICBC selldown worth about $1 billion: source

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January 28, 2013 9:14 PM EST

Goldman Sachs launched on Monday a sale of about $1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China <1398.HK>, according to a source with knowledge of the deal.

Goldman offered the shares in ICBC, as the bank is known, at HK$5.77 each, equivalent to a discount of 3 percent to Monday's close of HK$5.95, added the source, who was not authorized to speak publicly on the matter.

(Reporting by Michael Flaherty and Elzio Barreto; Editing by Robert Birsel)

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