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Bank of China raises $9.7 billion in record-breaking IPO in Hong Kong.
(From Retail Banker International)
Bank of China, the country's second-largest lender, has raised $9.7 billion in the world's biggest initial public offering (IPO) since 2000 and the sixth-biggest ever. If, as expected, the Beijing-based bank exercises an over-allotment option to increase its share offering by 15 percent, the proceeds of its IPO will rise to $11.2 billion, making it the fourth-biggest ever.
The IPO - the largest ever for a bank - values Bank of China at $92.4 billion, placing it tenth among the world's top banks by market capitalisation, just ahead of Spain's Santander Central Hispano and just behind Japan's Mizuho Financial Group.
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