Chinese Milestone: A Major Bank Goes Public – David Barboza

From the New York Times:

The China Construction Bank, fresh from raising $8 billion in a feverish initial public offering, saw those shares put in only a lukewarm performance in their first day of trading on Thursday.

The much-anticipated offering was China’s biggest ever, and the largest worldwide in four years. And despite the tepid performance, the offering helped transform the China Construction Bank, the country’s third-biggest lender, into a full-fledged behemoth valued at about $70 billion – even greater than Morgan Stanley, the Wall Street giant that helped take the company public.

October 28, 2005 8:18 AM
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Categories: Economy