BoCom to market US$1.5bn IPO

Bank of Communications, China's fifth-largest lender, could market its US$1.5bn initial public offering as early as this week if the listing is approved by the Hong Kong exchange where its IPO application hearing began yesterday, state media reported, citing people familiar with the deal. The Shanghai-based lender, which is 19.9% owned by HSBC Holdings, is hoping for a late June listing, and if successful, would make it the first overseas-listed Chinese mainland bank.