Banking News
- Beijing bank's IPO to raise up to US$2b
Date: 11-Sep-2007 Sources: (Shenzhen Daily)
BANK of Beijing, in which Dutch bank ING Groep owns nearly 20 percent, launched yesterday a Shanghai initial public offering (IPO) of shares which could raise up to 15 billion yuan (US$2 billion).
Bank of Beijing said it had set the price range for its offer of up to 1.2 billion A shares, or about 19 percent of its enlarged capital, at 11.50 to 12.50 yuan apiece. Bank of Beijing plans to issue 360 million shares to institutional investors and 840 million to retail investors.
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