The Bank of Communications, China��s fifth-largest lender, had not finalized details of its upcoming initial public offering, the Shanghai Securities News reported Friday, citing a bank spokesman.

The bank official made the remarks after the China Securities Journal on Thursday published pricing and timing details of the bank��s planned IPO.

��Currently, the Bank of Communications hasn��t decided the detailed plan of its public offering,�� said Song Feng, a spokesman for the bank, adding the bank had not settled on a final offering price.

The IPO of Bank of Communications, which is partly owned by HSBC Holdings, has long been anticipated. Shareholders of the lender approved a plan last month to go public by listing A shares in Shanghai and H shares in Hong Kong at the same time.

Separately, the Securities Times on Friday quoted underwriters of the Bank of Communications IPO as saying the bank might issue shares first in Hong Kong and then in Shanghai.

On Thursday, the China Securities Journal reported that Bank of Communications could price its IPO at 2.5 yuan a share to raise up to 20 billion yuan (US$2.42 billion).

It said the timing of offering��s launch and listing could fall in one of two periods: between Nov. 15 and Christmas, or Jan. 1, 2005 and the Chinese Lunar New Year.

The China Securities Journal report said the latter period was more likely. Lunar New Year is expected to fall some time in February 2005.

Source: Shenzhen Daily-Agencies