Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (5746)	3/1/2006 2:28:35 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

[Chinese bypassed again! What a JOKE!]--Bank of China Shelves Shanghai to Allow Hong Kong IPO (Update2) March 1 (Bloomberg) -- Bank of China, the nation's second- biggest lender, shelved plans to go public in Shanghai and will push ahead with a June initial offering in Hong Kong to raise as much as $8 billion, people involved in the sale said. The lender yesterday filed an application to the Hong Kong stock exchange, paving the way for China's second-biggest IPO, the people said, asking not to be identified before the sale is complete. The Beijing-based bank hasn't filed a request to sell shares in mainland China at the same time, they said. ``Simultaneous listing would lengthen the process as it would be the first such trial for both exchanges and lots of issues would crop up,'' said Sam Ho, who helps manage about $100 million at KDB Asia Ltd. in Hong Kong. ``The company probably wants to get the sale done sooner rather than later.'' An earlier listing may help the bank tap increasing appetite for Asian bank shares, which has seen the Morgan Stanley Capital International Index of Asian financial stocks excluding Japan rise 11 percent in the past three months. Regulators in China want the nation's biggest companies to restart new share sales in Shanghai, which were suspended in May to avoid a flood of equity aggravating market declines bloomberg.com