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Updated Wednesday, September 26, 2007 0:00 am TWN, AFP



	China Construction Bank, which raised 57.12 billion yuan (US$7.6 billion) in its initial public offering, saw its shares jump 33 percent in their debut in Shanghai on ... Enlarge Photo

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China Construction Bank jumps 33% on debut

SHANGHAI -- China Construction Bank, which raised 57.12 billion yuan (US$7.6 billion) in its initial public offering, saw its shares jump 33 percent in their debut in Shanghai on Tuesday.

Shares of China’s second-largest bank by assets, which already has a listing in Hong Kong, opened 2.10 yuan higher at 8.55, after it offered nine billion shares to investors at 6.45 yuan per share.

It was the nation’s second-largest ever domestic share offering after coal group Shenhua Energy, which late Monday said it would raise 8.9 billion dollars in its own Shanghai sale.

“I’m quite satisfied with the share price,” CCB chairman Guo Shuqing said moments after a bell-ringing ceremony at the Shanghai stock exchange.

The Beijing-based lender, in which Bank of America has a 8.19 percent stake, said it will use the proceeds to supplement working capital.

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