Industrial Commercial Bank of China Trades 2 Billion Shares on IPOposted by MR WAVETHEORY at 10/27/2006 08:26:00 AM
ICBC was also listed in Hong Kong and there the shares were priced at $3.07. The stock closed up 15% in Hong Kong. In Hong Kong, ICBC (Hong Kong 1398) traded between 3.49-3.63 to close at 3.52 (+.45). It goes to show that the Hong Kong and Shanghai markets are not fully market efficient and the market segmentation theory is well and alive.