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Contributors: Douglas McIntyre Jon C. Ogg

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Monday, October 09, 2006

Closer to the World's Largest IPO Ever

Industrial & Commercial Bank of China, China's largest lender by assets, has set a price range of 2.60 Chinese yuan to 3.12 Chinese yuan ($0.33 to $0.39 U.S.). This will be world's largest IPO and ICBC is still planning the first-ever dual listing in Shanghai and Hong Kong. The dual IPO will raise more than $21 billion, with the Hong Kong portion of the listing exceeding $16 billion. News agencies are reporting this as fact and "confirmed", but the original reports out of China had this range at the marked levels.

We can go on and on, but here is the full background of what we printed about two weeks ago.

Jon C. Ogg
October 9, 2006

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