Hong Kong Set to Be No. 1 in 2006 Offerings, Surpassing London and New York – Keith Bradsher

From The New York Times:

In a reflection of China’s growing prominence in international finance, is set for a banner year in global markets: More money will be raised by companies selling shares to the public here than on the biggest exchanges in New York and London.

And on Friday, pricing will be set for the world’s largest offering ever, that of China’s biggest bank, Industrial and Commercial Bank of China.

This week, long lines of individual investors showed up at downtown stalls to grab prospectuses for the bank’s initial public offering, while institutional investors have swamped the underwriters with orders.[Full Text]

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