Bank of China Limited (BOC) was officially listed on the main
board of the Hong Kong Exchange and Clearing Limited (HKEx) on
Thursday, with the bank's H shares trading on the same day.
BOC was the second of the Chinese mainland's Big Four
state-owned banks to be listed in HK. Its initial public offering
(IPO) was the largest in the world in six years, raising US$9.73
billion.
Its debut share price was HK$3.15, 6.8 percent above the IPO
price of HK$2.95.
At the end of the trading day yesterday, shares closed at
HK$3.40 with a traded volume worth HK$20.01 billion (US$2.56
billion). The traded volume accounted for 37 percent of the Hong
Kong stock market's total traded volume, setting a new record for
debut shares of newly listed companies.
BOC Chairman Xiao Gang said at the bank's listing ceremony that
BOC's IPO was one of the most successful in the international
capitals market, which was evidence of international investors'
confidence in China's long-term economic prosperity and acceptance
of the bank's century-old brand.
HKEx Chairman Ronald Arculli said that BOC's successful listing
reflects Hong Kong's status as an international financial hub,
adding that Hong Kong is working to attract more companies to list
there.
BOC offered a total of 25.57 billion H shares in its global
offering, including an initial 1.28 billion H shares for the Hong
Kong public offering and 24.29 billion H shares for the
international offering.
The bank's IPO on May 23 received a warm response globally.
After the IPO, applications were oversubscribed by 76 times in Hong
Kong, and 20 times at the international offering.
Xiao Gang said, as the oldest and one of the best-known
commercial banks in China, BOC has an extensive overseas branch
network, a solid customer base and a universal banking
platform.
He said BOC is a leader in non-interest income and foreign
exchange business with strong product innovation capabilities. Its
Hong Kong listing has started another exciting chapter of the
bank's hundred-year-old history.
(Xinhua News Agency June 2, 2006)
