From the Financial Times (link)
Bank of China, the country’s third-largest lender, will this week seek regulatory approval to raise up to US$8bn in Hong Kong, in a listing that could hand foreign investors led by Royal Bank of Scotland a paper profit of more than US$4bn.
But news that the RBS consortium – which includes the tycoon Li Ka-shing’s charitable foundation, Merrill Lynch and hedge funds – stands to more than double the value of its investment in less than a year could deepen an anti-foreigner backlash in China.
