ICBC International as joint account manager of world's largest equity project

Yesterday, ICBC revealed that the bank's wholly-owned investment bank in Hong Kong--ICBC International--was formally invited to be the joint account manager of the new issue of Petrobras, the world's largest equity financing project. Petrobras publicly disclosed its prospectus on September 3, which is intended to finance 55 billion to 65 billion dollars by issuing preferred shares and common shares.　　The scale of the above financing was more than the size of the 22.1 billion-dollar IPO by ABC this July and surpassed the 36.8 billion-dollar sale of the Japanese telecoms company NTT in 1987, making it the largest stock sale in history. Following the July ABC IPO, Petrobras's "Big Mac" project attracted the attention of almost all the world's investment banks.　　The project's global coordinators and joint account managers include Morgan Stanley, Citigroup, JPMorgan Chase, Credit Suisse, HSBC, Goldman Sachs, Bank of America Merrill Lynch and other internationally renowned investment banks. It is the first time that Chinese investment banks have played an important role in the major equity offerings outside the mainland and Hong Kong markets. ICBC International, backed by its parent company, was the only investment bank to be selected in Asia, the bank said. At present, because of the restriction of domestic business, ICBC's investment banking business is divided into two parts: internal and external.　　Offshore with ICBC International platform, can engage in equity underwriting and other investment banking business; onshore, ICBC takes the investment banking department as a platform, engages in mergers and acquisitions, financial advisers and other investment banking businesses that do not conflict with the law.　　ICBC's 2010 Interim results report showed that ICBC's investment banking revenues amounted to 8.666 billion yuan in the first half of the year, topping the list of domestic banking investment banks. At present, Brazilian oil has begun a two-week-long global roadshow and bookkeeping work.