HONG KONG - Industrial & Commercial Bank of China, the mainland's largest bank, plans to launch its initial public offering - expected to be the world's biggest ever - on Oct. 27 in Hong Kong and Shanghai, a report said Monday.

Final pricing for the shares will likely happen Oct. 20, ahead of the bank's dual listing the following week, a person familiar with the deal told Dow Jones Newswires.

The stock sale could raise more than $19 billion, surpassing the record $18.4 billion raised by NTT Mobile Communications Network Inc., or NTT DoCoMo Inc., in 1998.

The roadshow for the IPO will start Oct. 9, when the offering's indicative price range will also be given, Dow Jones Newswires quoted the source as saying.

The bank also intends to sell HK$27.6 billion, or $3.54 billion, worth of shares to several strategic investors in its IPO, according to the bank's preliminary prospectus. The investors include Kuwait Investment Authority, the Qatar Investment Authority and GIC Direct Investments Pte Ltd., an investment arm of the Singapore government.

ICBC is seeking to issue 13 billion A shares - priced in Chinese currency - and 35.39 billion H shares, or stocks for a mainland Chinese-registered company listed in Hong Kong, the preliminary prospectus said.

ICBC's dual IPO will be the first simultaneous offering of a Chinese state lender in Hong Kong and Shanghai. Chinese regulators have yet to approve the listing.

Merrill Lynch & Co., Credit Suisse Group, Deutsche Bank AG, Beijing-based China International Capital Corp., and ICEA Finance Holdings are acting as bookrunners for the Hong Kong share offering.

ICBC selected four local underwriters for its domestic A-share IPO: China International Capital Corp., CITIC Securities Co., Shenyin & Wanguo Securities Co., and Guotai Junan Securities Co.