BOCI's mainland subsidiary, BOC International (China) Limited, was incorporated in Shanghai in February 2002, becoming the first Sino-foreign joint venture with a comprehensive securities dealer's license covering the primary and secondary A-share markets. To date, BOC International (China) Limited provides underwriting and broking of Renminbi-denominated stocks, government bonds, corporate bonds and B-share brokerage services. Despite its short history of less than two years, BOC International (China) Limited was ranked third in the underwriting of new A-shares and was No.1 in the RMB bond market in terms of trading volume in 2003.
In April 2003, BOC International (China) Limited acted as the sponsor and lead manager in the A-share IPO of Shaanxi Aerospace Power Hi-tech Company Limited, a deal which was oversubscribed 1,125 times.
In July 2003, BOC International (China) Limited acted as the sponsor and lead manager in a RMB 2 billion convertible bond offering for State Power Development Company Limited. This project set three records in the domestic convertibles market, namely the largest total subscription amount, the largest amount of deposits frozen for bidding, and the largest over-subscription multiple.
In September 2003, BOC International (China) Limited was the joint lead manager for the A-share listing of Hua Xia Bank, which proved to be one of the highlights of the year in the local investment market.
BOC International (China) Limited: http://www.bocichina.com
