JPMorgan gets bookrunner role on China Merchants Bank IPO

China's sixth largest lender replaces Merrill Lynch to avoid potential conflict of interest.

JPMorgan has been elevated to joint bookrunner for China Merchants Bank's upcoming $1.5 billion to $2 billion initial public offering, replacing Merrill Lynch which has been dropped due to a perceived conflict of interest, sources familiar with the process said.

It is JPMorganÆs first bookrunner mandate for a mainland bank IPO, although it is a junior member of the syndicate for Bank of ChinaÆs pending listing. The US investment bank has also been chosen for a leading...

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