CCB shares likely to see 5% rise

Shares in China Construction Bank (CCB) are unlikely to rise by more than 5% on the trading debut Thursday because of the weak stock market and high pricing, the Standard of Hong Kong reported. Analysts and fund managers believe the share price of US$0.30, at the high end of the indicated price range of US$0.25 to US$0.31, will result in investor demand being less than originally expected. CCB sold 7.5% of its IPO to retail investors, who ordered 41 times more than the available shares initially set aside for them, while the institutional tranche was 10 times oversubscribed.