From International Herald Tribune:
In October, China Construction Bank raised $8 billion on the Hong Kong Stock Exchange in the world’s biggest initial public offering in four years.
Institutional demand for the offering, the first by one of China’s big four state banks, outstripped supply by 10 times, despite a price at the top of the indicated range, and shares reserved for retail investors were 42 times oversubscribed.
The sale set a total market value of close to $70 billion on China’s third-largest lender, making it the most valuable bank in Asia outside Japan.
See also BBC story on China Construction Bank’s IPO.
