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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: shades who wrote (60168)	5/3/2006 12:41:40 AM
From: shades	Read Replies (2) of 110194

Bank Of China Selling US$1.92B To Key Investors . HONG KONG (Dow Jones)--Bank of China (BCH.YY) has earmarked US$1.92 billion worth of shares for 12 key investors, mainly local tycoons, in its estimated US$8 billion offering, the South China Morning Post reported Wednesday, citing market sources. The mainland's second-largest lender by assets has verbally agreed to allocate to each investor US$160 million worth of shares with a 12-month lock-up period. The agreements are expected to be signed this week, said the paper. The paper reported that sources said the lender originally planned to cap the amount of shares sold to key investors at 20%, but overwhelming demand from tycoons, who are believed to include Henderson Land Development Co. (0012.HK) Chairman Lee Shau-kee and New World Development Co. (0017.HK) Chairman Cheng Yu-tung, had pushed it to remove the limit. Newspaper Web site: scmp.com -By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com -Edited by David Riordan (END) Dow Jones Newswires

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