HONG KONG: Shares in China's Bank of Communications, which raised US$1.88bil in the world's second largest IPO this year, rose 13% on their debut as investors chased a piece of China's first overseas bank offering.
Despite the Chinese bank sector's bad-loan woes, investors bet that global bank HSBC, which has a near 20% stake in Bank of Communications, or BoCom, will help bring in retail banking business and improve risk control.
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