10/30/2006

World's Biggest IPO

Hello:

The world's largest initial public offering (IPO) was launched last Friday. IPO's are a corporation's first offering of stock to the general public. Industrial and Commercial Bank (ICBC), China's largest bank, raised $19.1 billion and was the first company with a simultaneous IPO listing on the Hong Kong and the Shanghai exchange. The shares rose less on the mainland Shanghai exchange than on the Hong Kong exchange, indicating that overseas investors may be more optimistic about the Chinese Government's bank clean-up program. This is further indication that China will have the economy and the markets to watch for the next generation.

Terri G. Millson, CIMA, CIMC President