CITIC Bank leaves on a stock exchange
in China the new coil of an agiotage around IPO
Chinese CITIC Bank is expected on April, 27th will spend primary placing of actions simultaneously at stock exchanges of Hong Kong and Shanghai. Yesterday the bank has begun demands acceptance from institutional and retail investors on purchase of actions. By estimations of analysts, during IPO can be collected more than 3 mlrd dollars Thus, placing becomes the largest in the Peoples Republic of China from the moment of carrying out in October of last year IPO Trading - industrial bank of China (ICBC).
CITIC Bank - the seventh on size commercial bank of China. 80 % of its actions belong to the Peking financial conglomerate China International Trust and Investment Corporation, 4,83 % of actions in 2006 are got by the Spanish bank Spain “ s Banco Bilbao Vizcaya Argentaria. Under the international standards of the reporting net profit CITIC Bank in 2006 has grown on 25 %, to 3,86 mlrd yuans (about 498 million dollars) .
Anderrajterami IPO CITIC Bank act Citigroup, HSBC, Lehman Brothers, and also the Chinese companies CICC and CITIC Securities. To Hong Kong with - which to a stock exchange it is planned to place 4,885 mlrd actions CITIC Bank, on Shanghai - 2,302 mlrd actions. In Hong Kong in case of the raised demand possibility of additional issue is provided. If now at the Hong Kong stock exchange it is planned to place 12,76 % from total number of actions CITIC Bank with the account dopemissii their share can make 14,39 %. The subscription to actions of institutional investors will pass on April, 16-19th, retail - on April, 19th.
IPO CITIC Bank becomes the largest in China from the moment of placing in Hong Kong and Shanghai in October of last year of actions of leading bank of country ICBC which has collected the record sum 21,9 mlrd dollars of Action ICBC from this point on have grown on 79 % and continue to rise in price. Experts predict a great demand and on actions CITIC Bank. Its exit on stock exchanges marks a new coil of an agiotage around IPO.
the Chinese companies last year have collected during primary placing at stock exchanges of continent and in Hong Kong almost 62 mlrd dollars, having overtaken on this indicator the American companies (48 mlrd dollars). Interest both foreign, and local investors could not cool and almost 10 - percentage falling of stock market of continental China in the end of February of this year. “ in 2006 at stock exchanges the largest Chinese companies took place, it were sign placings.
this year it is possible to expect splash IPO of the average enterprises, - head Russian - the Chinese centre trading - economic cooperation Sergey Sanakoev has explained daily. Is means a serious stage in privatisation of the Chinese economy “.