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.
CDT EBOOKS
Subscribe to CDT
SUPPORT CDT
Giving Assistant
Anti-censorship Tools
Click on the image to download Firefly for circumvention
