Smaller China Banks to Test IPO Waters
Last year China was the scene of some of the biggest initial public offerings on the planet. Sprawling, state-owned lender Industrial & Commercial Bank of China raised $21.9 billion in a dual listing in Hong Kong and Shanghai, the biggest IPO in the world. Bank of China raised $13.6 billion when listed in the same two markets. In all, major Chinese banks have raised close to $50 billion since the beginning of 2006, according to Dealogic, a financial research group.
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