The bank plans strategic stake sales ahead of its planned IPO
Bank of China (BOC), the mainland's biggest foreign-exchange bank, is set to cut a deal with foreign investors on strategic equity stakes ahead of its proposed listing next year, according to the bank's chief Xiao Gang.
'We are confident that the listing could happen next year,' Mr Xiao said in Hong Kong yesterday.
Mr Xiao was speaking after the annual general meeting of BOC's Hong Kong-listed flagship, BOC Hong Kong (Holdings).
Asked about the bank's overseas listing option, he said: 'We are confident', without elaborating.
The bank appears to be a step closer to becoming China's first state-owned bank to list, with its pre-listing restructuring - a pre-requisite before going public - due for completion by the end of next month.