ICBC's dual IPO sets new record

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In the world's biggest initial public offering (IPO) to date, the dual listing of Industrial & Commercial Bank of China (ICBC), China's biggest bank by…

In the world's biggest initial public offering (IPO) to date, the dual listing of Industrial & Commercial Bank of China (ICBC), China's biggest bank by assets, raised US$19.1 billion. Marking the first simultaneous IPO of shares in Hong Kong and Shanghai, ICBC's shares began trading in both markets on October 27 2006.

ICBC priced its H-shares (trading in Hong Kong) at the top end of expectations, at HK$3.07 (US$0.39) per share, and its A-shares (trading in China) at Rmb3.12 (US$0.39) per share. On their debut, the shares increased by 14.66% and 5.13% respectively.

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