Individual investors lined up by the hundreds outside Hong Kong banks Monday hoping to buy into the giant Industrial and Commercial Bank of China initial public offering. The bank set a price range yesterday of between US$0.33-39 for both A-shares and H-shares, which will be launched simultaneously. The retail portion of the IPO accounts for only 5% of the deal but if it is 100 times oversubscribed, a clawback mechanism will raise the retail portion to 20%. The institutional tranche has attracted US$180 million in orders, the Wall Street Journal reported. Some fund managers expect the bank's shares to rise as much as 10% on the first day of trading. Bank of China rose 15% and China Merchants Bank shot up 25%.