Home>News Center>China
       
 

CCB plans up to US$7.64b in IP0 - sources
(Reuters)
Updated: 2005-10-05 09:30

China Construction Bank, the country's third-largest lender, will offer its IPO at a value as high as US$7.64 billion, or 1.59 to 1.90 times forward book value, sources close to the deal said on Wednesday, making it the world's biggest IPO this year.

Beijing-based China Construction Bank (CCB), set an indicative IPO per share price range between HK$1.80 and HK$2.25, ahead of a management promotional tour due to kick off on Wednesday.

The valuation is at a discount to the country's number-five lender, Bank of Communications (BoCom), whose shares trade at about 2.2 times book.

Shanghai-based BoCom, the only Chinese bank with an overseas listing, raised US$2.16 billion by selling its shares at about 1.7 times book value, or 14.5 times forward earnings.

Shares of BoCom have risen 32 percent since their June listing.

CCB is offering 26.486 billion shares, or 12 percent of its enlarged share capital.

China International Capital Corp (CICC), Morgan Stanley and Credit Suisse First Boston are the joint book runners for the deal.

CICC and Morgan Stanley previously have tested the market with a forward price-to-book valuation range of 1.79 to 2.23 times.

CCB is set to price the deal on October 19 ahead of a listing on October 27.

The IPO, on track to be China's largest, is expected to generate ample demand from investors wanting to buy into the first of China's "Big Four" state-owned banks to go public.

CCB, which plans a dividend payout of 35 to 40 percent, has IPO commitments totaling $1.5 billion from strategic investors Bank of America Corp and Singapore's Temasek Holdings.

In June, CCB sold a 9 percent stake to Bank of America at about 1.15 times 2004 book value. Bank of America has the option to increase its stake in CCB to 19.9 percent.

Hong Kong tycoon Lee Shau Kee, who heads property firm Henderson Land Development Co. Ltd has also expressed an interest in investing in the offering.



Coal mine explosion kills 34
Typhoon Longwang hits Taiwan
National Day "Golden Week" holiday
  Today's Top News     Top China News
 

Typhoon claims 65, dozens missing

 

   
 

Super-efficient nuke reactor set for trial

 

   
 

Snow expected in Beijing for talks

 

   
 

Poor management blamed for mine blast

 

   
 

Americans, German win Nobel physics prize

 

   
 

Bats passed SARS to civet cats: Expert

 

   
  CCB plans up to US$7.64b in IP0 - sources
   
  Typhoon claims 65, dozens missing
   
  Road accidents kill 133 during National Day holiday
   
  Snow expected in Beijing for talks
   
  Personal income rises in Guangdong
   
  Super-efficient nuke reactor set for trial
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China bank gets IPO OK from HK bourse
   
Hearing set for lender's HK IPO
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 熟女性饥渴一区二区三区| 黑人一个接一个上来糟蹋| 精品一区二区三区免费视频| 4399影视免费观看高清直播| 最近中文字幕免费mv视频| 亚洲欧美成人完整版在线| 男人的j插入女人的p| 四虎成人精品在永久免费| 麻豆AV一区二区三区久久| 国产精品JIZZ在线观看无码| 91在线激情在线观看| 大肉大捧一进一出好爽视频| 一二三区在线视频| 成视频年人黄网站免费视频| 久久久久女教师免费一区| 日韩精品一区二区三区老鸦窝| 亚洲伊人色欲综合网| 欧美最猛黑人xxxx黑人猛交3p| 人妻尝试又大又粗久久| 精品国产免费人成网站| 四影虎影ww4hu32海外| 进击的巨人第五季樱花免费版| 国产成人无码区免费内射一片色欲 | 国产激情视频一区二区三区| 中文字幕永久在线视频| 日韩午夜中文字幕电影| 亚洲va成无码人在线观看天堂| 欧美性色黄大片www喷水| 亚洲欧美精品一区二区| 波多野结衣与上司出差| 伊人久久精品无码AV一区| 精品国产一区二区三区香蕉事 | 亚洲国产一区二区三区在线观看| 永久免费a∨片在线观看| 亚洲色无码国产精品网站可下载| 男生和女生一起差差差很痛的视频 | 国产中文字幕在线观看视频| 麻豆人人妻人人妻人人片AV| 国产成人高清在线播放| 激情三级hd中文字幕| 国产漂亮白嫩美女在线观看|