China Construction Bank's IPO plan to be reviewed

Updated Wednesday, September 5, 2007 0:00 am TWN, AP

China Construction Bank's IPO plan to be reviewed

SHANGHAI - China’s securities regulator will this week review state lender China Construction Bank Corp.’s plan to issue shares in Shanghai in what could be the country’s biggest initial public offering so far. The bank’s plan to issue up to 9 billion yuan-denominated shares will be reviewed Friday, the China Securities Regulatory Commission said in a notice seen Tuesday on its Web site. The Construction Bank was the first of China’s four big state banks to stage an IPO in Hong Kong, raising US$9.2 billion in October 2005. But it has lagged behind rivals Industrial & Commercial Bank of China (ICBC) and the Bank of China in seeking a domestic share listing.

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