Bank of China pre-markets IPO

The bank is expected to conclude its IPO at a price to book valuation of 1.5 to 1.8 times.
June 23, 2002

Formal pre-marketing begins today (Monday) for the bank's sole listing in Hong Kong, with 1.5 times price to book said to be the absolute line in the sand below which the bank is not prepared to drop.

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