Industrial and Commercial Bank of China shares rose 14.7% in Hong Kong and 5.1% in Shanghai on October 28, 2006, following the world's largest-ever initial public offering. The listing propelled the Chinese lender into the top ranks of global banks by market capitalization.
The Industrial and Commercial Bank of China's record-breaking IPO established it as a major global financial institution, impacting the equities market and setting a precedent for large-scale offerings.
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Industrial and Commercial Bank of China shares experienced divergent performances on their debut, rising 14.7% in Hong Kong and a more modest 5.1% in Shanghai. The dual listing marked the world's largest-ever initial public offering, immediately positioning the Chinese lender among the top global banks by market capitalization.
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