Lex: Minsheng IPO

The upcoming initial public offering of China Minsheng Banking, the country's eighth largest lender by assets, saw huge demand from retail investors. Minsheng has banked HK$30bn (US$3.9bn) after selling 15 per cent at HK$9.08 a share - the largest haul by any local debutant this year. Ben McLannahan examines what looks like a good long-term story.