Bank of China gets key approval for HK IPO! z, \0 l7 k! z) n6 j
Bank of China, China's top foreign exchange lender, has secured key approval from the State Council to launch a HK$60 billion (US$7.7 billion) Hong Kong initial public offering in the first half of 2006, a Hong Kong newspaper reported on Monday.& D$ b& t$ q1 d
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.2 f* a2 j/ ^- M: D
The bank may file a preliminary listing application with the Hong Kong Stock Exchange as soon as this week, the paper added.4 {2 M+ K( n% l8 ` ~% D! A- L
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.
) z: y4 Y0 O6 J, z: N: x% w L The offering would value the bank at 400 billion yuan (US$49.6 billion), the paper said. |