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BoC to list in early 2006

Bank of China plans to make its long-awaited US$4 billion initial public share offering in March or April 2006, and to use Goldman Sachs and UBS as underwriters, state media reported, quoting Zhu Xinqiang, assistant to the bank's president. The bank has provisionally decided to list in Hong Kong in March or April, depending on market conditions, the official Shanghai Securities News cited Zhu as saying at an economic forum in Beijing. Four investors - Asian Development Bank, Royal Bank of Scotland Group, Singapore state investment agency Temasek Holdings and UBS - will collectively take a 24% stake in Bank of China.

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