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Thursday September 23, 10:28
Bank of Communications’ IPO predicted to $2 billion

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Bank of Communications’ IPO predicted to $2 billion  (by Sh. Nakata)

China’s fifth biggest lender Bank of Communications says this year initial public offering of the institution will bring up to $2 billon.

Bank’s expected IPO can lead to international investors buy the bank. At the beginning of 2005, it will carry out dual listing (in Shanghai and Hong Kong), but the possibility of being bought by foreign investors is not much appeals to the Chinese authorities, so government can interfere with the future IPO.

“The IPO is under preparation. There are a number of plans being considered but there is a desire to it as quickly as possible,” said an individual familiar to the deal.

There are also two banks having an option to list their shares in 2005: China Construction Bank and Bank of China and specialists predict a strong competition between the banks to get to the top of Chinese IPO.

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