china-merchants-and-jingkelong-attract-overwhelming-demand-for-ipos

China Merchants and Jingkelong attract overwhelming demand for IPOs

ChinaÆs largest private-sector bank prices above other Mainland institutions listed in Hong Kong, while JingkelongÆs retail tranche is more than 540 times subscribed.
China Merchants Bank has fixed the price on its H-share initial public offering at the top end of the range at HK$8.55, which pitches it at a slight premium to the average valuation of the other three Mainland banks listed in Hong Kong.

The price was no surprise given the overwhelming demand for ChinaÆs largest private-sector bank, which has a leading position in the fast-growing consumer banking segment of the market.

Sources say the institutional portion of the $2.42 billion deal was about 50 times covered, while retail investors asked for 266 times the 5% of the offering initially earmarked for them. The subscription levels for both institutions and retail investors were the highest...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222