亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线

China's domestic bourse is expected to embrace the largest initial public offering (IPO) in history after the government lifted the year-long ban on the issuing of A shares.

 

Bank of China (BOC), the country's second largest lender, said it has applied to issue as many as 20 billion yuan (US$2.5 billion) A shares on the domestic bourse.

 

That would be the largest domestic IPO to date and the first company to "return" home after being listed overseas.

 

"We plan to issue as many as 10 billion A shares on the domestic bourse, which would occupy not more than 3.945 percent of total equity," the bank said in its share sale document submitted to the China Securities Regulatory Commission (CSRC).

 

A public offering review committee will hold a hearing on Friday, the CSRC said late on Monday. The IPO hearing will put BOC on schedule to complete its domestic listing by late June or early July.

 

The proposed sale will mean the bank with 3.9 trillion yuan (US$ 487.5 billion) in total assets and 27.49 billon yuan (US$3.436 billion) in net profit in 2005 will surpass Sinopec to become the largest listed company on the domestic bourse in terms of the total volume of issued shares, total assets and net assets.

 

Sinopec, the nation's largest oil refiner, raised 11.8 billion yuan (US$1.5 billion) issuing A shares on the Shanghai Stock Exchange in 2001.

 

The bank's Hong Kong shares closed at HK$3.575 (46 US cents) yesterday, 20 per cent higher than the HK$2.95 (38 US cents) initial public offering price.

 

The CSRC ended a year-long ban on share sales last month in an effort to attract bigger companies to domestic markets, now dominated by smaller, State-owned manufacturers. Companies such as the Industrial and Commercial Bank of China (ICBC), the nation's biggest lender, have said they plan to sell A shares. The ICBC plans its own Hong Kong IPO of about US$12 billion this year.

 

BOC has been ensnared in a corruption scandal recently with a Chinese businessman arrested for allegedly embezzling 146 million yuan (US$18 million) from a local branch with the help of bank employees.

 

Wu Guofang, general manager of Zhoukou Wanyuan Beer Company in Central China's Henan Province, is accused of embezzling the money from the bank's Shenqiu branch in 2004 and 2005.

 

As the Shenqiu case is still going through the courts, the bank can't disclose any details, said bank spokesman Wang Zhaowen.

 

But he added: "The case in Henan will not seriously affect the operation and financial situation of BOC."

 

(China Daily June 7, 2006)