Category: Money tips Release Date: 2006-08-06
Industrial and Commercial Bank of China opened an international road show a good beginning. "First Financial Daily" from sources close to syndicate office learned yesterday morning from a syndicate of institutional investors formally accept phone orders. As of yesterday at 5 pm, the ICBC International Placing part of the 33.6 billion shares H shares has been received in full orders.
ICBC yesterday, 12:30 Four Seasons Hotel in Hong Kong held its first international road shows, aimed at Hong Kong's leading funding agencies, fund managers are attending the scene, senior analyst or corporate investors. In addition to local funds, there are many European and American funds are also represented. Bank of East Asia (0023.HK) Chairman David Li, Cheung Kong (0001.HK) Deputy Managing Director Ip Tak Chuen, Hong Kong's financial sector and other celebrities also attended the Promotion.
As the size of ICBC's H share offering is much larger than A shares, the ICBC IPO can depend on the successful completion of the subscription response to foreign investors. ICBC attaches great importance to the international road shows, Chairman Jiang Jianqing, president Yang attended the Promotion of Health. At the meeting, senior ICBC ICBC mainly on their own advantages, non-performing loans and other issues of institutional investors questions.
ICBC's major shareholder of the Central Huijin to Jesse Wang, vice chairman, attended the promotion will be represented. Jesse Wang arrived at the scene told reporters after the meeting, the Meeting payment of state-owned banks need to have absolute control, for exchange holdings of gold and the Ministry of Finance will not be lightly ICBC shares. Jesse Wang also said that investors in this offering enthusiastic response, he believes that the successful completion of ICBC listing.
"ICBC's electronic systems among banks in the Mainland is the most advanced, especially customer data systems. One of the advantages of ICBC's customer classification will help ICBC launched related products for different customers. ICBC executives said at the meeting, each morning all branches of the financial data can be sent to the chairman and the president's office in order to level the operation of bank status and control risks. "promotion will be attending a fund manager, said to this reporter.
Hong Kong Department of Asset Management managing director Kim Yuming and Fu Ying LEI Jing Lei, director of financial capital are to this reporter after the meeting that they are prepared to subscribe for ICBC shares generous. They are optimistic about the bank's lending business performance, also believes that the bank's IPO book value "is not expensive."
According to plan, the ICBC this 35.4 billion shares were issued H shares and 130 million shares A shares, with a total capitalization up to 1,700 billion yuan, will be the world's largest ever IPO. ICBC's 35.4 billion shares H shares of 95% for international placement, and 5% in Hong Kong public offering. ICBC's H shares will be held October 16 at the Hong Kong public offering, closed for subscription on October 19, October 27 H shares and A shares same time.
