Bank of China, whose shares are expected to rise modestly when the stock debuts in Hong Kong June 1, said it has no timetable for a yuan- denominated IPO in Shanghai. The bank raised US$9.7 billion with its Hong Kong IPO and plans to follow that up with a smaller IPO in Shanghai, which is expected to raise up to US$2.5 billion through the issue of 9.6 billion shares, state media reported. Despite earlier reports that the IPO may be issued as early as June, the bank said there is no concrete timetable. Analysts expect BOC's Hong Kong shares to go up to 10% from the US$0.38 offer price when trading starts.
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