Bank of Communications, which is planning a US$2bn IPO in the Hong Kong market June 23, is seeking to determine its share price June 17, the Wall Street Journal reported, citing people involved in the deal. According to one of its underwriters, HSBC, the bank's share price merits a value between US$0.24 and 0.34, reflecting a multiple comparable to its peers'. In other bank IPO news, China Construction Bank said it plans to list its shares in Hong Kong before year-end as it has entered a "critical stage" in negotiations with potential foreign investors.
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