From the Financial Times:
ICBC plans HK and Shanghai listings
By Sundeep Tucker in Hong Kong and Geoff Dyer in Shanghai
Industrial and Commercial Bank of China is planning an unprecedented simultaneous dual listing in Hong Kong and Shanghai in a move that demonstrates the growing depth of the mainland’s capital market.
ICBC’s listing in Hong Kong is expected to raise at least US$12bn, trumping the $9.7bn raised by rival Bank of China when it listed in Hong Kong last month. The mainland listing of ICBC is expected to raise a further $3bn. If ICBC raises a combined $15bn, it will be the world’s third largest IPO to date…
ICBC is big and they are going to get even bigger. Hopefully they will use some of the money they get from the markets to invest in some customer service training.