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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.

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