Bank of China shares rise 15 percent in Hong Kong trading after mega IPO
Shares in Bank of China, which raised US$9.7 billion in the world's largest initial public offering in six years, rose a better-than-expected 15 percent in their trading debut on Thursday as investors shrugged off jittery markets.
The share sale was the largest from China and marked another milestone in Beijing's efforts to clean up a banking sector that has long been a weak link in the country's booming economy as a result of decades of state-directed lending.
Bank of China
Proposed Ticker: 3988.HK
Expected Pricing Date: 06/01/2006 07:00:00
Exchange: Foreign
Expected Price: 2.95 - 2.95
Lead Underwriter: Bank of China
Total Shares: 25,568,590,000
Est. Offering Amount: 75,427,340,000
CTC Media
Proposed Ticker: CTCM
Expected Pricing Date: 06/01/2006 07:00:00
Exchange: NASDAQ
Expected Price: 16.00 - 18.00
Lead Underwriter: Morgan Stanley
Total Shares: 29,427,390
Est. Offering Amount: 500,265,600
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