Industrial and Commercial Bank of China plans to seek approval for a US$19 billion initial public offering from the Hong Kong stock exchange listing committee on September 21, the South China Morning Post reported, citing sources close to the bank. If it goes ahead as planned, it is likely to be the world's largest listing, beating NTT DoCoMo's 1998 offering, which raised US$18.4 billion. The Beijing-based bank plans to sell 53 billion shares, or 16% of its enlarged share capital, in a dual Hong Kong and domestic market listing – 35 billion shares in Hong Kong and 18 billion A-shares in Shanghai. The lender is also finalising how many shares to allot to strategic investors, including a number of tycoons and Middle East investment fund Dubai International Capital. Generally, the exchange places a 25% on sales to key investors.