BOC to offer A-share listing

Bank of China may also list on the Shanghai stock exchange but the A-share listing is unlikely to affect its Hong Kong H-shares, which are expected to jump 5-10% when trading begins on Thursday. State media quoted unnamed sources Monday as saying BOC will go ahead with a renminbi-denominated A-share listing this month. The move is not altogether unexpected, since the H-share prospectus said the bank would earn up to US$2.5 billion by offering 10 billion A-shares before July 2007. The Standard of Hong Kong reported the sale is likely to happen this year but cannot be completed in June.