Standard Chartered to take stake in Bank of China HK

In a move set to boost confidence in Bank of China Hong Kong''s IPO, Standard Chartered will take a strategic stake.

In each of China's major IPOs, it has become the norm to bring in a major strategic investor. The purpose of this is usually to get the average Hong Kong taxi driver excited about buying the stock. Since most taxi driver's idol is Li Ka-shing, he has frequently been the favoured choice.

However, Li has no experience of banking, and Bank of China's investment story as a bank has taken a bit of a pounding over the past year....

To continue reading, please login or register for free

Click for more on: standard | chartered | stake | bank | china | hk

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...