Related News
PICC issues extra shares after HK IPO
Source: Xinhua |
December 18, 2012, Tuesday
|
Print Edition
Print Edition
PEOPLE'S Insurance Co (Group) of China yesterday said it has issued additional shares to meet high demand after its Hong Kong share sale.
The move will help raise an extra HK$3.5 billion (US$451.6 million) for the mainland's second-largest insurer, which means PICC raised HK$27.5 billion in the initial public offering and over-allotment.
The firm said it had "fully" exercised its H-share over-allotment, or greenshoe option, on Friday to issue an extra 1.0347 billion shares at the IPO price of HK$3.48 each. The over-allotment equals about 15 percent of the original IPO amount.
The greenshoe option, effective from the IPO date to December 29, allows underwriters to ask the firm to add up to 1.035 billion shares at the IPO price under the insurer's plan.
PICC listed in Hong Kong on December 7 to raise about HK$24 billion, the biggest IPO in the city this year. The shares rose 6.9 percent to HK$3.72 on the first trading day.
The new shares will be traded on Friday, and public investors will hold 18.44 percent in PICC.
The over-allotment was exercised by China International Capital Corp Hong Kong Securities Ltd, the Hong Kong and Shanghai Banking Corp Ltd, Credit Suisse (Hong Kong) Limited and Goldman Sachs (Asia) LLC, PICC said.
The move will help raise an extra HK$3.5 billion (US$451.6 million) for the mainland's second-largest insurer, which means PICC raised HK$27.5 billion in the initial public offering and over-allotment.
The firm said it had "fully" exercised its H-share over-allotment, or greenshoe option, on Friday to issue an extra 1.0347 billion shares at the IPO price of HK$3.48 each. The over-allotment equals about 15 percent of the original IPO amount.
The greenshoe option, effective from the IPO date to December 29, allows underwriters to ask the firm to add up to 1.035 billion shares at the IPO price under the insurer's plan.
PICC listed in Hong Kong on December 7 to raise about HK$24 billion, the biggest IPO in the city this year. The shares rose 6.9 percent to HK$3.72 on the first trading day.
The new shares will be traded on Friday, and public investors will hold 18.44 percent in PICC.
The over-allotment was exercised by China International Capital Corp Hong Kong Securities Ltd, the Hong Kong and Shanghai Banking Corp Ltd, Credit Suisse (Hong Kong) Limited and Goldman Sachs (Asia) LLC, PICC said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
