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Bank of China to sell shares in Hong Kong
(AP)
Updated: 2005-12-29 14:58
China's banks are restructuring and listing shares overseas, hoping to build up their competitiveness as they brace for the full opening of the country's banking industry to foreign competition late next year.
The China Construction Bank, another of China's top four big commercial banks, raised $8 billion in October in the world's biggest initial public offering this year.
The Bank of China's IPO is to be followed by a share listing by the Industrial & Commercial Bank of China, or ICBC, in 2007.
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