Monday, October 10, 2005
Bank of China to sell 40% stake in the 2006 Hong Kong IPO
10/10/2005 Story: Bank of China (BOC), China's third largest money lender based in Beijing, has made decisions to launch its IPO in Hong Kong in March or April, 2006.
This is according to the Beijing News, citing Zhu Xinqiang, the assistant to the BOC president.
The article went on to cite Zhu as saying that BOC would sell 40% of its stake at the IPO. BOC has sold some 24% stake to the overseas strategic investors including Royal Bank of Scotland, Singapore's Temasek, the Swiss UBS and the Manila-based Asian Development Bank for as much as USD 8bn, the paper added, again citing Zhu.
Source: Beijing News
Value: $8,000m (invested by the overseas strategic investors)
This is according to the Beijing News, citing Zhu Xinqiang, the assistant to the BOC president.
The article went on to cite Zhu as saying that BOC would sell 40% of its stake at the IPO. BOC has sold some 24% stake to the overseas strategic investors including Royal Bank of Scotland, Singapore's Temasek, the Swiss UBS and the Manila-based Asian Development Bank for as much as USD 8bn, the paper added, again citing Zhu.
Source: Beijing News
Value: $8,000m (invested by the overseas strategic investors)
