HONG KONG (MarketWatch) -- The Industrial & Commercial Bank of China Ltd. raised $19.07 billion Friday after pricing its initial public offering at HK$3.07 (39 cents), the top end of its indicative price range, to become the world's biggest ever IPO.
If an over allotment option is exercised, the offering could raise as much as $21.9 billion under its dual listing in Hong Kong and Shanghai, according to The Wall Street Journal.
The offering bests a previous record held by Japan's NTT Mobile Communications Network, which raised $18.4 billion during its 1998 IPO.
"From an investor point of view the pricing is a little bit high, but given the market momentum for comparable Chinese banks, the pricing is acceptable," said Chris Choi, chief investment officer of Partners Capital Asset Management in Hong Kong.
The ICBC listing will be the first simultaneous dual listing on the Hong Kong and Shanghai stock exchanges. The Shanghai portion will be priced at 3.11 yuan, an equivalent level to the Hong Kong issue under current foreign-exchange rates.

The institutional portion on the Hong Kong listing was more than 30 times covered, attracting $350 billion in orders, said a spokesman for one of the global sponsors.
The Hong Kong retail portion was 78 times oversubscribed, while the Shanghai retail portion was covered 49 times, the spokesman said. The retail portion of the offering will automatically rise to 10% from 5%, owing to the strong demand.
The shares will make their trading debut on Oct 27.
ICBC, which ranks as China's largest lender by assets, is selling 13 billion shares in Shanghai and 35.39 billion shares in Hong Kong, accounting for about 14.8% of its share capital.

this is gona be huge !!
The Industrial & Commercial Bank of China Ltd with $19.07 bn , biggest ever, well investors surely gona see some gains here, need to wait and watch how many times it gets over subscribed, probably investor community worldaide would participate in this grand ipo

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