SINGAPORE: China’s biggest state bank, the Industrial and Commercial Bank of China (ICBC), has entered the fast-growing Singapore initial public offering (IPO) market in a bid to break into the international investment banking arena.
The Singapore branch of ICBC is managing and underwriting a S$13.6mil initial share sale for Asia Environment Holdings Ltd, the second Chinese water and waste-water treatment company to go for listing in the city-state.
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