Home>News Center>China

CCB to launch world's biggest IPO
Updated: 2005-10-10 20:56

Shares in China Construction Bank (CCB) will start being traded in Hong Kong on Oct. 27 following the bank's global launch of this year's biggest initial public offering (IPO), according to a leading financial newspaper. The IPO may reach 7.7 billion US dollars, the newspaper reports.

CCB to launch world's biggest IPO
CCB plans up to US$7.64b in IP0

CCB has been declining to comment, but media reports about its overseas market listing abound.

Monday's edition of China Securities Journal, run by Xinhua News Agency, covers the bank's listing details, saying the shares will be priced in a range of 1.80-2.25 Hong Kong dollars (23-29 UScents) and that the CCB share trading number on the Hong Kong stock exchange is 0939.

The CCB IPO -- expected to raise 6.1-7.7 billion US dollars -- is also the biggest-ever of any Chinese enterprise, eclipsing another mainland bank, Bank of Communications, which offered shares at 1.6 times book value in its 1.9 billion US dollar IPO last June.

The paper reported that CCB board chairman Guo Shuqing was busylaunching his bank's roadshow for institutional investors in leading US and European financial hubs ahead of the bank's retail share sale.

Citing sources familiar with the CCB move, the paper said that shares for institutional investors, accounting for 95 percent of the bank's planned total, have been fully booked. "Considering thehot market response, the CCB may price its shares at the upper end of the range."

   上一页 1 2 3 4 下一页  

Fire kills 5 in Northeast China
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top China News

Australia, US, Japan praise China for Asia engagement



Banker: China doing its best on flexible yuan



Hopes high for oil pipeline deal



Possibilities of bird flu outbreaks reduced



Milosevic buried after emotional farewell



China considers trade contracts in India


  EU likely to impose tax on imports of Chinese shoes
  Bankers confident about future growth
  Curtain to be raised on Year of Russia
  Coal output set to reach record high of 2.5b tons
  WTO: China should reconsider currency plan
  China: Military buildup 'transparent'
  Go to Another Section  
  Story Tools  
Manufacturers, Exporters, Wholesalers - Global trade starts here.