ICBC said to have mandated four banks for follow-on

China's largest bank has named BNP Paribas, BOCI, ICBC International and UBS as the arrangers for its upcoming H-share issue, say sources.

Industrial and Commercial Bank of China has mandated BNP Paribas, BOC International, UBS and its own investment banking arm, ICBC International, for its upcoming H-share follow-on offering, according to several sources. However, a representative for one of the banks noted that ICBC hasn't made an official announcement yet, which means the line-up could potentially change.

The deal is expected to come after Agricultural Bank of China's massive initial public offering of up to $30 billion, which now seems to be set for June or July. ICBC's deal may raise up to $12 billion based on yesterday's closing price, although obviously the new shares will be issued at a discount to the prevailing market price....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222