Bank of China launches highly anticipated IPO

With the exercise of the greenshoe the offer could raise up to $11.4 billion in an offering which could surpass China Construction Bank as largest ever equity deal from China.

By Anette Jönsson

May 10, 2006

When Bank of China kicks off the roadshow for its highly anticipated initial public offering today it will write another chapter in a turnaround story which has included massive bad loan write-offs, a $22.5 billion cash injection from the government and battles against management corruption at the highest level.

The result is a slimmer and more disciplined bank with a total asset value of Rmb4.74 trillion $591 billion, a projected bottom line growth rate of 30% and an official sponsorship for the 2008 Olympic Games on its CV.

Like China Construction Bank before it, BOC is poised to attract the attention not only of Hong Kong investors, but of portfolio managers globally û...

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