Tag: icbc

Chu Kong Pipe seeks capital to expand its production. Meanwhile, China Oil and Gas tapped the market for $80 million last night through a top-up placement at a 16.7% discount. Chinese bank spending on technology will reach $11.3 billion by 2011, says Celent. Standard Bank’s China chief executive Craig Bond discusses the surprising popularity of infrastructure finance and the bank’s trade services in China. The Chinese real estate company prices its IPO 17% below the original range and gives retail investors a chance to cancel their orders. ICBC, mainland China's largest lender by market capitalisation, agrees to pay up to $545 million for Thailand's ACL Bank and launches its first-ever tender offer. One year after it first tested the markets, Powerlong is back, going toe-to-toe with Glorious Property. Upon completion of the deal, GCL-Poly's chairman will become the company's majority shareholder. In parallel deals, China's largest bank agrees to buy Bank of East Asia's Canada business and relinquishes control of ICEA Finance. Moody's discusses some of the characteristics of the world's largest bank. The Chinese bank shells out $5.5 billion for a 20% stake and board representation in South Africa's largest bank, Standard Bank. The Chinese bank pays $590 million to acquire an 80% interest in Seng Heng Bank from Stanley Ho and CEO Patrick Huen. China's sixth largest lender replaces Merrill Lynch to avoid potential conflict of interest. Bank creates a new role for a head of execution in response to its growing profile in the ECM league tables. Inaugural bond deal from Hong Kong lender marks Territory''s first international senior debt issue by a local bank. The bank is considering how to adapt to changing interest rates. China''s largest state-owned bank licenses Midas and Trade Innovation products for data centre. ICBC overwhelmed with demand for $190 million exchangeable. ICBC''s purchase of Union Bank could be the thin edge of the wedge for Hong Kong''s banks as Chinese banks seek international expertise