Shares in Chinese banking titan Bank of China have rocketed by up to 31% as investors scrambled to grab a piece of the action in the company's domestic initial public offering.
The popular listing on the Shanghai exchange raised $2.5 billion for the bank and follows on from its $11.2 billion international listing in Hong Kong at the beginning of June.
According to the Scotsman newspaper, Bank of China is now larger than Wells Fargo, the fifth biggest US bank, while only slightly trailing Royal Bank of Scotland, with a market capitalization of $116.2 billion.
Bank of China has total assets of $593 billion, a domestic branch network of 11,300 outlets and controls 12% of the loans market in mainland China and 14% of the savings market.