Bank of China has priced its A shares at US$0.38, the lower end of the indicative price range, as it prepares for its domestic listing, the South China Morning Post reported. The bank is planning to raise US$2.5 billion dollars in the offering, meaning it will sell 6.49 billion shares. An official announcement of the pricing information is scheduled for today. The offering is expected to fetch 2.85 times BOC's book value at the end of last year and 22 times last year's earnings per share. Analysts estimate total investor interest, including retail investors, could surpass US$75 billion. Shares will begin trading on July 5 on the Shanghai exchange.
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