Dust settles in race to manage big China bank IPO
The chips have settled somewhat in the race to manage the offering of China's biggest commercial bank, Industrial and Commercial Bank of China, expected to be a $12 billion deal. Morgan Stanley will join the list of managers, along with Merrill Lynch, Credit Suisse, Deutsche Bank and ICBC's own investment banking arm, ICEA Finance Holdings. Earlier, Morgan had been left off the list. Goldman Sachs will not participate, as it is part of a consortium of investors in ICBC and faced some conflicts.
> Here's an update.
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