ICBC eyes HK-Mainland listing

In what would be a market first, Industrial and Commercial Bank of China, the country's biggest lender, is considering listing shares in both Hong Kong and the Mainland in an expected US$10 billion IPO in the second half of 2006, reported the Hong Kong Standard. ICBC has reorganized itself as a joint stock company and has been helped by a contribution of US$15 billion in state funds as well as the removal of US$55.6 billion in non-performing loans. Last month's China Construction Bank Hong Kong IPO raised US$9 billion.