ICBC Secures China Regulatory Approval for Share Sale – Luo Jun

From Bloomberg:

Industrial & Commercial Bank of China, the nation’s largest lender, received regulatory approval for a public share sale, paving the way for the lender to be the first company to sell shares simultaneously in Hong Kong and Shanghai.

State-owned Industrial & Commercial may raise between $10 billion and $12 billion in its Hong Kong share sale as early as the third quarter, bankers involved in the initial public offering said in May. On July 13, bankers said the lender may list simultaneously in Shanghai and Hong Kong. [Full Text]

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