ICBC makes history with record US$19 billion IPO in dual listing in 2006 - SCMP archive

In 2006, the Industrial and Commercial Bank of China (ICBC) made history with a record-breaking US$19 billion IPO, marking the largest initial public offering at the time. The bank's shares saw a divergence following its first parallel listing in both Hong Kong and New York, reflecting investor interest and global market dynamics. This milestone underscored China's growing influence in the global financial system and highlighted the increasing transparency and internationalization of Chinese state-owned enterprises. The event had broader implications for global finance, setting a precedent for future large-scale IPOs.