Tuesday, May 23, 2006

Bank of China Prices in IPO: $9.73 B-i-l-l-i-o-n

No surprise to those watching the clamoring for business in China: Bank of China's IPO is a biggie.

To be exact, Bank of China raised a whopping $9.73 billion, according to a Bloomberg report from Germany. The bank priced shares at $2.95, just 5 cents below the top of its expected range.

UPDATE: Seen on Bloomberg TV this a.m. that a Saudi prince wants a 2.7 percent stake in Bank of China for $2 billion. Oh, just found it -- here's the details.

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