Home / News Type Content Tools: Save | Print | E-mail | Most Read | Comment
CCB Bank IPO Raises US$8 Bln
Adjust font size:

The mainland's largest property lender, China Construction Bank (CCB), raised US$8 billion in the world's largest initial public offering (IPO) this year, after it priced its shares at HK$2.35 apiece yesterday, close to the top end of the indicative range.

Analysts believe CCB will become a major market mover after its shares are traded in Hong Kong from next Thursday. They think CCB's share price will soar.

Lai Wai-ching, associate director of Hantec Investment Holdings based in Hong Kong, predicted that CCB's share price would rise by 5 to 8 percent in the short term, and has the potential to exceed HK$10 in the long term.

CCB, the first of the big four state-owned banks to be listed overseas, had earlier priced its IPO at between HK$1.9 and HK$2.4 when it sold 26.5 million H, or Hong Kong-listed shares, through the global offering. Among them, 1.32 billion shares, or 5 percent, were initially earmarked for retail investors in Hong Kong, with the rest for international offering, including some to CCB's strategic investors.

A spokesman for CCB declined to reveal subscription results, only saying the bank will release an official announcement next Tuesday.

It was reported that the international tranche as of yesterday attracted investment demand worth US60 billion from institutions and corporations, including Japanese investors and private banks.

Market sources have said the IPO's retail portion was more than 42 times over-subscribed, less than the 50 to 60 times level earlier estimated by Hong Kong brokerages. Sources close to the deal said the retail portion of the IPO was lifted to 7.5 percent from the initial 5 percent, even though demand was not as huge as expected.

"Retail investors are very careful about their investments these days as the stock market is sluggish," Lai said. "They are now more aware of valuation and margin costs."

However, Lai believes CCB's IPO was a good beginning and will encourage other mainland banks that are preparing for their overseas listings.

"I believe CCB, as well as other mainland lenders, have the potential to become investment darlings among local investors," Lai added.

According to CCB's prospectus, proceeds from the IPO would be used to strengthen the company's capital base in order to support growth.

The Bank of Communications was the first mainland bank to be listed overseas. Its shares were over-subscribed by more than 200 times earlier this year.

One of the largest commercial banks in China, CCB has about 14,250 branches. It has a nationwide base of approximately 68,000 corporate loan and discounted bill customers, and approximately 146 million active personal deposit accounts.

(US$1=HK$7.8)

(China Daily October 21, 2005)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- China Construction Bank Inks Alliance with Temasek Holdings
- CCB: Audit Procedure Tightened
- Construction Bank to Offer Private Banking Service in HK
- CCB Set to Launch US$7.7 Billion IPO
- CCB Launching HK Public Offer
Most Viewed >>
- World's longest sea-spanning bridge to open
- Yao out for season with stress fracture in left foot
- 141 seriously polluting products blacklisted
- China starts excavation for world's first 3G nuclear plant
- Irresponsible remarks on Hu Jia case opposed 
- 'The China Riddle'
- China, US agree to step up constructive,cooperative relations
- FIT World Congress: translators on track
- Christianity popular in Tang Dynasty
- Factory fire kills 15, injures 3 in Shenzhen

Product Directory
China Search
Country Search
Hot Buys
主站蜘蛛池模板: 国产伦子系列麻豆精品| 天天综合网天天综合色| 国产性夜夜夜春夜夜爽| 91粉色视频在线导航| 日本熟妇乱人伦XXXX| 亚洲国产一区二区三区在线观看 | 老鸭窝毛片一区二区三区| 夜夜爽77777妓女免费看| 两个小姨子完整版| 日日婷婷夜日日天干| 亚洲日产2021三区在线| 玩弄放荡人妻少妇系列视频| 午夜影放免费观看| 色吊丝中文字幕| 国产精品久久久久久久网站| 98精品国产高清在线看入口| 奇米影视7777777| 一区二区手机视频| 成人国产在线不卡视频| 丰满饥渴老女人hd| 日本伊人色综合网| 久久强奷乱码老熟女网站| 最近免费韩国电影hd无吗高清| 免费精品视频在线| 老司机在线精品| 国产男女猛烈无遮挡免费视频网站| 一区二区精品视频| 成人免费视频一区二区| 中文字幕无码日韩专区| 日日噜噜噜夜夜爽爽狠狠视频 | 强行扒开双腿猛烈进入| 中文字幕人成乱码熟女| 欧洲亚洲国产精华液| 亚洲欧洲日产国码一级毛片| 波多野结衣有一部紧身裙女教师| 免费av一区二区三区| 视频在线观看国产| 国产又色又爽又黄刺激在线视频| 8周岁女全身裸无遮挡| 在总受文里抢主角攻np| 99v久久综合狠狠综合久久|