Bocom drops dual-listing plans

Bank of Communications, China's fifth-largest lender, abandoned plans to be the first Chinese company to list shares simultaneously on mainland and Hong Kong exchanges, the Wall Street Journal reported, citing sources involved in the deal. Bocom may now raise its Hong Kong offering to US$2bn from US$1.5bn. Originally, it planned to raise US$1.5bn in Shanghai, a plan reportedly shelved because of poor market conditions.