bank-of-china-becomes-worlds-8th-biggest-bank-by-value

Bank of China becomes world's 8th biggest bank by value

Bank of China sees a successful first day of trading and lights up its Hong Kong building with its new stock code to celebrate.

The Editors

June 02, 2006

Bank of China's $9.73 billion IPO saw a successful first day's trading closing at HK$3.40, up 15% from its listing price of HK$2.95. This was achieved in spite of difficult markets, and makes Bank of China the eighth largest bank in the world by market capitalisation ($106.7 billion) - ahead of its shareholder RBS (market capitalisation $102.5 billion), Mizuho Financial ($98.7 billion) and probably most importantly, China Construction Bank ($97.7 billion) . To celebrate its achievement, Bank of China flashed its new stock code '3988' sequentially on the Bank of China Tower in Hong Kong. The light show is captured in the four photographs below:

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