Bank of America appears to be positioning itself to sell some of its stake in China Construction Bank, after exercising a call option to raise its stake in the Chinese lender to 19.13 per cent from 10.75 per cent.

Analysts estimate BofA paid around HK$2.80 per share to increase its holding, a 32 per cent discount from CCB’s Hong Kong-traded share price at the close of trade last Friday.