Industrial and Commercial Bank of China has mandated BNP Paribas, BOC International, UBS and its own investment banking arm, ICBC International, for its upcoming H-share follow-on offering, according to several sources. However, a representative for one of the banks noted that ICBC hasn't made an official announcement yet, which means the line-up could potentially change.
The deal is expected to come after Agricultural Bank of China's massive initial public offering of up to $30 billion, which now seems to be set for June or July. ICBC's deal may raise up to $12 billion based on yesterday's closing price, although obviously the new shares will be issued at a discount to the prevailing market price....
¬ Haymarket Media Limited. All rights reserved.
