IPO prospectus to be released
By Michael Flaherty and Samuel Shen |
June 4, 2010, Friday
|
Print Edition
Print Edition
CHINA'S securities regulator plans to release long-awaited documents for the Agricultural Bank of China's roughly US$30 billion initial public offering today, according to sources, a sign the deal is on track for a listing approval hearing next week.
Sources said the China Securities Regulatory Commission will release the Agricultural Bank's preliminary prospectus late today, which would offer key financial information on the company, not seen since the bank's year-end report in 2008.
The Beijing-based lender is planning to seek Shanghai and Hong Kong listing committee approval on June 10, sources say. The bank is expected to begin premarketing the deal in next week, with a tentative A-share and H-share listing date of July 15 and 16, according to sources.
A company spokesman was not available for comment.
In an A-share draft prospectus, the issuer normally states the number of shares it is going to offer in Shanghai, and sometimes will state Hong Kong H-shares as well.
Investors looking to buy into the world's largest IPO will be allowed to soak up financial details in the prospectus, with the exception of IPO price and valuation.
The Agricultural Bank is going public to complete China's mission of listing its top banks, and to raise money at a time when all China's major financial groups are boosting capital ratios after a lending spree.
The lender had US$7.1 trillion in assets as of 2008, its last public financial filing.
Sources said the China Securities Regulatory Commission will release the Agricultural Bank's preliminary prospectus late today, which would offer key financial information on the company, not seen since the bank's year-end report in 2008.
The Beijing-based lender is planning to seek Shanghai and Hong Kong listing committee approval on June 10, sources say. The bank is expected to begin premarketing the deal in next week, with a tentative A-share and H-share listing date of July 15 and 16, according to sources.
A company spokesman was not available for comment.
In an A-share draft prospectus, the issuer normally states the number of shares it is going to offer in Shanghai, and sometimes will state Hong Kong H-shares as well.
Investors looking to buy into the world's largest IPO will be allowed to soak up financial details in the prospectus, with the exception of IPO price and valuation.
The Agricultural Bank is going public to complete China's mission of listing its top banks, and to raise money at a time when all China's major financial groups are boosting capital ratios after a lending spree.
The lender had US$7.1 trillion in assets as of 2008, its last public financial filing.
- 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.
