Royal Bank of Scotland selling assets in Bank of China

U.K.'s Royal Bank of Scotland is selling its Bank of China stake to increase its balance sheet troubled by more than 7 billion pounds of write downs in 2008.

RBS is offering investors 10.8 billion shares for HK$1.68 to HK$1.71 each, less than the closing price of Bank of China in Hong Kong Tuesday, Bloomberg reported quoting documents sent to investors.

Morgan Stanley and RBS's ABN Amro unit are handling the share sale.

British government injected 20 Billion pounds of capital to RBS last year which granted it a 57 per cent shareholding in the bank.