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Bank of Shanghai sets price for Shanghai IPO

Bank ofShanghai Co. Ltd. has set the price for its planned ShanghaiIPO at 17.77 yuan pershare, Reuters reported Oct. 11, citing a Chinese-language document.

The bank plans to sell 600.45 million shares to raise up to10.7 billion yuan of capital.

As of Oct. 10, US$1was equivalent to 6.71 Chinese yuan.