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Last Updated: Friday, 27 October 2006, 08:31 GMT 09:31 UK
Shares in ICBC climb 15% on debut
Industrial and Commercial Bank of China branch
ICBC's shares have proved to be very popular
Shares in Industrial and Commercial Bank of China (ICBC) have risen 14.6% on its Hong Kong debut, following the world's biggest flotation.

The share price closed at 3.52 Hong Kong dollars ($0.45; 23.9p) on Friday from its start price of HK$3.07.

The bank, China's largest lender, raised as much as $21.9bn from its dual listing in Shanghai and Hong Kong.

China's surging economy, which is set to grow by more than 10% this year, has created strong demand for bank shares.

Shares were at one stage 18% above thier opening value.

Four of China's banks have floated since last year, however, there are fears that banks have been overvalued, with questions raised over levels of bad debt.




SEE ALSO
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