Bank braces for some heavy weather as it plays wait-and-see with IPO
If the weathermen are to be believed, Bank of China's initial public offering on June 1 may just experience some minor buffeting.
As typhoon Chanchu bears down on Hong Kong, some brokers worry it could delay the listing as applications start from tomorrow.
It may sound like a bad joke but in the BOC's prospectus, the application form states: 'If there is a black rainstorm warning or a tropical cyclone warning signal number 8 or above in force in Hong Kong at any time between 9am and 12 noon on Tuesday, May 23, 2006, the application lists will not open on that day.'
We assume that even if there was a signal No8 typhoon on Thursday, the share offering can still be secured with a shorter subscription period, given that Chanchu presumably will not stay here for long. Unless, of course, it joins the queue for a chunk of BOC's offering.
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