BoCom launches $267m IPO of offshore unit

The listing of BoCom International is set to be the first offshore investment banking spin-off by a state-owned Chinese bank.

Bank of Communications (BoCom), China’s fifth-largest lender by assets, started bookbuilding for a HK$1.7 billion to HK$2.1 billion ($233 million to $267 million) initial public offering of its offshore securities brokerage and investment banking subsidiary BoCom International on Friday.

¬ Haymarket Media Limited. All rights reserved.

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