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Rediff.com  » Business » Bank of China launches world's biggest IPO in HK

Bank of China launches world's biggest IPO in HK

Source: PTI
June 01, 2006 13:50 IST
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Bank of China Limited launched on Thursday the world's biggest initial public offering in six years in Hong Kong stock exchange.

The BOC shares were officially listed on the main board of the Hong Kong Exchange and Clearing Limited and the trading of the bank's share began on Thursday.

BOC is the second listed bank among the four biggest commercial banks in the Chinese mainland and the bank's initial public offering is the world's biggest of the kind in six years, Xinhua news agency reported from Hong Kong, a Special Administrative Region of China.

The debut share price was $0.40 (HK$3.15), 6.8 per cent up over the initial public offering price of HK$2.95, it said.

BOC Chairman Xiao Gang said at the bank's listing ceremony at the HK Exchange that the BOC's IPO is one of the most successful IPO programmes in the international market, which indicated the international investors' confidence in China's long-term economic prosperity and acceptance of the bank's century-old brand.

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