The Goldman Sachs Group, Inc. is seeking to sell stake worth $1 billion in Industrial and Commercial Bank of China Limited (ICBC). The shares are being offered at HKD 5.77 per share according to a term sheet obtained by Bloomberg News. The document doesn't indicate the number of shares offered.

Goldman Sachs has no immediate plans to sell more shares following this transaction, Edward Naylor, Spokesman for Goldman Sachs said. ICBC fell 2.4% to HKD 5.82.