ICBC prices its shares at 3.07 HK dollars

The Industrial and Commercial Bank of China (ICBC), the largest Chinese lender, prices its shares at the top line of 3.07 HK dollars, the highest price for state-owned Chinese banks listed in Hong Kong, according to information available here Saturday.

The bank's issue of initial public offering in Hong Kong met with great enthusiasm with almost 1 million individual subscribers, freezing capital of 420 billion HK dollars (53.9 billion U.S. dollars), breaking the record of 270 billion HK dollars set by Bank of China, the second largest Chinese bank listed in Hong Kong in June.

Experts of the market believed because of the over demands in the market the bank's share may make its investors well paid when it starts trading on Oct. 27.

Source: Xinhua