After ban, investors line up for China IPO – Bloomberg News

From Bloomberg News:

The Bank of China said Wednesday that it had attracted $84.6 billion in bids for its initial public offering, 33 times the stock on offer, underlining the demand for share sales after Beijing lifted a yearlong ban on new equity offers.

Individual investors accounted for more than 80 percent of the orders for stock in the bank, which sought 20 billion yuan, or $2.5 billion, selling local- currency shares, according to a statement by the lender, which is based in Beijing. A lottery will be held to decide which investors get shares, it said.

The Bank of China offering is a test for efforts to channel more of the $1.9 trillion of Chinese household savings into equities after restrictions that forced mainland companies to sell stock abroad were lifted.

[Full Text]

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.