Bank of China blockbuster IPO shows equity resilience
Despite equity prices falling around the world, Bank of China priced its IPO on Wednesday only slightly below the peak of its offer range, after massive demand from institutional, retail and strategic investors.
The deal has raised at least $9.73bn and if the greenshoe is exercised will fetch about $11.19bn in total.
Institutional investors ordered more than $112bn of stock, even as the world's stockmarkets rocked under the twin scares of inflation in the US and the potential for rising interest rates.
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