Chinese investment bank CICC to triple its Shanghai IPO amid rising industry competition
Chinese investment bank CICC to triple its Shanghai IPO amid rising industry competition

Chinese investment bank CICC to triple its Shanghai IPO amid rising industry competition

 

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Investment bank China International Capital Corp. Ltd. (CICC) said it plans to more than triple the size of its planned IPO in Shanghai as it seeks to take advantage of the warming capital market and boost growth as competition picks up.

The CICC, which is currently listed in Hong Kong, will issue up to 1.4 billion shares on the Shanghai Stock Exchange, up from the 458.6 million shares in the initial plan announced in late February, according to a company statement on Monday. The new shares will amount to as much as 24.77 per . . .

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