CSFB expected to invest in China’s ICBC
(1 July 2005 - China) CSFB is reportedly likely to become the first foreign investor in Industrial and Commercial Bank of China after the Chinese bank sets up a listing vehicle this year.
ICBC is actively contacting US and European financial institutions to discuss the issue of strategic investment and Industry sources have said CSFB is most likely to become the first overseas strategic investor.
The top Chinese lender plans to set up a joint stock company by the end of September, which would be 50-50 owned by the Finance Ministry and Central Huijin Investment Co.
The joint stock company would be used as a vehicle for the bank's initial public offering in 2006 or 2007.
The top Chinese lender plans to set up a joint stock company by the end of September, which would be 50-50 owned by the Finance Ministry and Central Huijin Investment Co.
The joint stock company would be used as a vehicle for the bank's initial public offering in 2006 or 2007.
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