ICBC International doing good business
Became No.2 underwriter and No.1 Chinese investment bank in Hong Kong last year.
ICBC International, the investment banking arm of ICBC in Hong Kong,sponsored 7 IPOs last year. In terms of the value of deals inked in Hong Kong capital market last year, IPOs underwritten by ICBC International made up 63%. ICBC International was the No. 2 underwriter and No.1 Chinese investment bank in Hong Kong.
In 2012, ICBC International underwrote 4 of the top 5 IPO deals in Hong Kong. They were IPOs of The People's Insurance Company (Group) of China Ltd; Haitong Securities; Yitai Coal and China Machinery Engineering Corporation.
The PICC IPO was also the largest in Asia (excluding Japan) in 2012. The placement of H-share for Haitong Securities is currently the largest IPO of any domestic stock broker in Hong Kong.
In M&As, ICBC International completed those for Shandong Heavy Weichai Ferretti Group to acquire 75% stake in Ferretti through restructuring. Ferretti is a famous Italian manufacturer of luxury yachts in the world.