Top Biz News

Ping An gets green light for Shanghai IPO

By Hu Yuanyuan (China Daily)
Updated: 2007-01-31 08:45

The Shanghai offer, at its maximum size, would account for 15.66 percent of Ping An's expanded capital of 7.345 billion outstanding shares.

The mainland's bullish stock market, where the main index soared 130 percent last year, has prompted major mainland companies listed in Hong Kong to make plans to return.

China's Industrial Bank drew 1.16 trillion yuan in subscriptions fromretailand institutional investors, a record for a domestic IPO.

China's Bank of Communications is expected to raise about $2.6 billion through a listing in Shanghai in March.

                                                                 (China Daily 01/31/2007 page13)