Shares in the Bank of China's $9.7bn (€7.6bn) initial public offering have risen 17% on the grey market ahead of the bank's first day of trading on Thursday.

The shares were trading at HK$3.35 to HK$3.45 on Friday according to UK spread betting firm Cantor Index. Shares in the flotation, the world's largest for nine years, were priced at HK$2.95 last week, towards the top of the HK$2.50 to HK$3.00 range.