October 28, 2006
The World's Biggest IPO!
Posted by Lisa Fairfax

Yesterday, China's biggest bank, Industrial and Commercial Bank of China, or ICBC, began trading its shares simultaneously in Hong Kong and Shanghai in the world's biggest IPO, raising $19 billion. The offering was the first ever to list in both Hong Kong and Shanghai--raising $13.9 in Hong Kong and the remaining $5.1 in Shanghai. More than 1 million people placed orders. In case you were wondering, the all time biggest US offering was the AT&T offering at $10.6 billion, with the most recent largest offering being the Master Card offering that Vic has discussed, which raised close to $2.5 billion. The offering surpassed the last biggest offering ever by the Bank of China. Can't resist the pun, that's a lot of investors banking on the strength of China's economy!!!

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