Bank of China's $11bn (€8.6bn) initial public offering, which is expected to generate a record bookrunner fee for UBS, and a five-year high for Goldman Sachs, is set to attract up to $55bn of investor orders, according to fund management sources.

UK fund manager F&C said the flotation could be three-to-five times oversubscribed with the Hong Kong market going into a frenzy for shares.