Bank of America is selling about half its stake in China Construction Bank for 8.3 billion U.S. dollars, in its latest effort to shed assets and boost capital.

A group of investors is buying about 13 billion CCB shares from Bank of America, with the deal expected to close in the third quarter. The U.S. bank declined to name the investors, but two sources say Singapore state fund Temasek is among the buyers.

Analysts estimate Bank of America needs to boost capital by some 50 billion dollars in the coming years to meet new global rules.

China Construction Bank is the second-largest bank in the world by market value, and Bank of America's ties with it are seen as an important source of future growth.

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