Bank of China gets key approval for HK IPO7 O- [1 O) `( K T1 q7 O
Bank of China, China's top foreign exchange lender, has secured key approval from the State Council to launch a HK$60 billion (US$7.7 billion) Hong Kong initial public offering in the first half of 2006, a Hong Kong newspaper reported on Monday.The listing plan awaited a final approval from the China Securities Regulatory Commission, the South China Morning Post reported, citing sources close to the situation.
8 T: k. E; S, @5 d D+ [) @ The bank may file a preliminary listing application with the Hong Kong Stock Exchange as soon as this week, the paper added.* J0 r5 q. o6 `- \+ n
The offering, which Bank of China previously planned to complete before April, was now most likely to be launched in May, the paper quoted the sources as saying.
/ C/ d1 ~8 V: @5 l The offering would value the bank at 400 billion yuan (US$49.6 billion), the paper said. |