Massive demand for Bank of Beijing IPO

SHANGHAI: Bank of Beijing, a medium-sized Chinese bank, drew more than US$250bil of funds to its US$2bil share sale in Shanghai, setting a record for subscriptions to an IPO in China's domestic market. 

The massive demand for the shares may ease concern about the stock market's ability to absorb a slew of big IPOs expected over the next several months, as monetary policy tightens and this year's bull run in equities shows signs of faltering.