ABC to go on with world's biggest IPO
By Langi Chiang |
May 10, 2010, Monday
|
Print Edition
Print Edition
AGRICULTURAL Bank of China, aiming for the world's largest-ever initial public offering, will press ahead with its plans despite weak market sentiment, one of its underwriters said on Saturday.
Market jitters will probably delay the launch of an international board in Shanghai for the trading of overseas firms' shares, Li Jiange, chairman of China International Capital Corp, told reporters on the sidelines of a forum.
But when asked whether ABC might postpone its dual listing, which could be as big as US$30 billion, in Hong Kong and Shanghai, he said: "I think there will be no impact."
Shares in both Hong Kong and Shanghai just finished their worst week in months, battered by worries about Greek debt as well as government's tightening measures to cool the economy, particularly the real estate sector.
CICC, China's biggest investment bank, is an underwriter for the bank's IPO, as well as a listing by China Everbright Bank.
A delayed launch for the international board would mark the first set-back for the Chinese mainland's financial markets in the wake of the recent turmoil.
Hong Kong has already been hit, with conglomerate Swire Pacific last week pulling a US$2.7 billion IPO set for that market.
A government official has said earlier China was on course to finalize regulations this year that would allow foreign companies to list in Shanghai.
Market jitters will probably delay the launch of an international board in Shanghai for the trading of overseas firms' shares, Li Jiange, chairman of China International Capital Corp, told reporters on the sidelines of a forum.
But when asked whether ABC might postpone its dual listing, which could be as big as US$30 billion, in Hong Kong and Shanghai, he said: "I think there will be no impact."
Shares in both Hong Kong and Shanghai just finished their worst week in months, battered by worries about Greek debt as well as government's tightening measures to cool the economy, particularly the real estate sector.
CICC, China's biggest investment bank, is an underwriter for the bank's IPO, as well as a listing by China Everbright Bank.
A delayed launch for the international board would mark the first set-back for the Chinese mainland's financial markets in the wake of the recent turmoil.
Hong Kong has already been hit, with conglomerate Swire Pacific last week pulling a US$2.7 billion IPO set for that market.
A government official has said earlier China was on course to finalize regulations this year that would allow foreign companies to list in Shanghai.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
