Bank of China's IPO - shunning the homeland

The forthcoming IPO of the Bank of China is likely to attract many investors by its size and potential. The initial public offering is valued at $6 billion to $8 billion and has a chance to be the second-biggest IPO ever out of China. However, it will also highlight the inefficiency of the local exchanges in Shanghai and Shenzhen. They will probably be kept out from the operation. BusinessWeek online reporter Brian Bremner explains:

The best companies in China don't even bother offering their shares in the mainland. Instead, the country's most promising financial institutions and tech companies are blowing off the local exchanges entirely and opting for overseas listings in Hong Kong, New York, or London.

read the full story: http://www.businessweek.com/bwdaily/dnflash/jan2006/nf2006019_7318_db039.htm?campaign_id=rss_daily


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