Industrial and Commercial Bank of China was 77 times oversubscribed retail investors, attracting more than US$53.9 billion worth of orders in Hong Kong. The retail portion of the public share offering closed Thursday noon, a source told the Hong Kong Standard. The subscriptions total is a new record for Hong Kong, surpassing the previous high water mark of HK$280 billion set by Bank of China in June. The bank has yet to decide if all H-share retail subscribers will each get 1,000 shares despite the frenzied response. "It is not a foregone conclusion that the lender needs to follow its peers in the same policy," the source told the newspaper, "everyone getting at least one lot is not likely."
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