BOC ready for IPO
(Reuters)
Updated: 2006-05-20 17:42
![Retail investors queue to take prospectuses for the initial public offering of Bank of China in Hong Kong May 18, 2006. The Bank of China, which is preparing a $9.8 billion IPO, said on Wednesday it expects its tax rate to fall below 35 percent after its listing on June 1, down from 40 percent in 2005. Investors are clamouring for shares of Bank of China, which is the country's second-largest bank, as brokers are predicting retail orders worth $64 billion, or 130 times the shares initially earmarked for local Hong Kong investors. [Reuters]](xin_0605032017462091825160.jpg)
Retail investors queue to take
prospectuses for the initial public offering of Bank of China in Hong Kong May
18, 2006. The Bank of China, which is preparing a $9.8 billion IPO, said on
Wednesday it expects its tax rate to fall below 35 percent after its listing on
June 1, down from 40 percent in 2005. Investors are clamouring for shares of
Bank of China, which is the country's second-largest bank, as brokers are
predicting retail orders worth $64 billion, or 130 times the shares initially
earmarked for local Hong Kong investors. [Reuters]
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