Lenovo and ICBC Join Forces
PC maker Lenovo Group and China's major commercial lender ICBC have formed a wide-ranging partnership agreement, state media reports. Lenovo will work exclusively on ICBC's infrastructure developmentplans, including computer and technological services. The bank, meanwhile, will be Lenovo's main banking institution for "all-round financial services", according to a joint statement. ICBC and Lenovo will also cooperate in overseas markets.
Subscribers Pledge USD430bn for China Railway IPO
China Railway Construction is currently preparing for an anticipated
USD5.4 bn IPO on the Shanghai and Hong Kong stock markets, which state
media is speculating will be the world's biggest initial public
offering so far this year. The IPO - which will take place on 10 March
in Shanghai, and 13 March in Hong Kong - was oversubscribed to the tune
of USD430 bn (RMB3.08 trillion) from potential subscribers. The
state-run company announced that it plans to issue up to 2.45
billionA-shares for a Shanghai listing, down 12.5 per cent from the
originally planned 2.8 billion shares.
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