ICBC mandates banks for upcoming IPO

Goldman Sachs excluded but Morgan Stanley given a surprise role.

Industrial Commercial Bank of China yesterday March 9 confirmed that it has hired Credit Suisse, Deutsche Bank and Merrill Lynch to help arrange its upcoming IPO, which is expected to raise about $10 billion.

In a Chinese-language announcement issued via its Hong Kong branch, ICBC also said a China International Capital Corp consortium and its own joint venture investment bank ICEA Securities will join the three international investment banks as joint arrangers.

As rumoured in recent days Goldman Sachs...

To continue reading, please login or register for free

Click for more on: ipo | financials | bank

Print Edition

FinanceAsia Print Edition

CONFERENCES