Select a page

Banking News

Enthusiasm for Bank of China shares ends in lottery

Enthusiasm for Bank of China shares ends in lottery

(28 June 2006 – China) Retails investors have flocked to support Bank of China’s mainland initial public offering. Bank of China will list on the Shanghai Stock Exchange early next month.

Underwriters said the IPO was oversubscribed more than 50 times, with demand hitting 178.2 billion Bank of China ‘A’ shares compared with the 3.45 billion in available shares.

As a result, a lottery will be carried out to decide which retail investors obtain shares.

The bank had intended raising up to US$2.5 billion on the Shanghai Stock Exchange.

In April, Bank of China raised US$11.2 billion in an IPO in Hong Kong, the world’s largest for six years.
East & Partners's avatar

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.