ICBC's indicative price range offers discount versus peers

Price range indicates pre-greenshoe deal size of $15.9 billion to $19.1 billion for combined H and A share offering. The offering has the potential to become the world's largest IPO.

Industrial and Commercial Bank of China has set a price range for its mega-size initial public offering. The range will value the stock at a discount of 10-22% to China Construction Bank - which is widely viewed as the bank's closest comparable, sources familiar with the offering said yesterday. Based on current market prices it will also offer a discount to Bank of China, albeit a smaller one.

ChinaƆs largest bank, which will kick off the official roadshow for its...

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