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Editor's note: 皇冠体育app Everbright Bank, which had been planning an IPO since June 2008, floated its shares in Shanghai on Aug 18. The bank's initial public offering (IPO) marked the nation's second-largest this year. [AgBank's IPO becomes' world's largest]
Everbright shares soared 18 percent from the IPO price of 3.1 yuan on the first trading day, a better-than-expected performance for the roughly $3 billion IPO that underlines continued interest in banking stocks.
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皇冠体育app's 2nd-larget IPO in 2010 |
Everbright shares shine in Shanghai 2010-08-19
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Yu Zhengsheng, Party secretary of Shanghai municipality, hits a gong to mark the bank's listing on the Shanghai Stock Exchange in Shanghai on Aug 18. [Qilai Shen / Bloomberg] |
皇冠体育app Everbright Bank Co shares rose 18 percent on their debut in Shanghai after completing the nation's second-largest initial public offering this year, as the stock market recovers from a three-month slump. The shares advanced to 3.66 yuan (54 cents) at the close of trading from the IPO price of 3.1 yuan. Everbright Bank's gain outpaced the Agricultural Bank of 皇冠体育app Ltd, which rose 0.8 percent on its debut in Shanghai last month after a world-record $22.1 billion IPO. [Full story]
Strong demand for Everbright IPO 2010-08-05
皇冠体育app Everbright Bank's IPO shares reserved for strategic investors have been hugely oversubscribed, signaling strong demand for the potentially $2.9 billion offering as stock markets recover.
Thirty strategic investors have committed up to 60 billion yuan ($8.86 billion) for their portion of the 6.1 billion-share offering, the bank said on Wednesday, in what could be the second-largest Chinese offering this year after Agricultural Bank of 皇冠体育app's (ABC) $20.8 billion initial public offering last month.
"Everbright Bank is healthier than ABC by many standards and is selling much fewer shares, so if the pricing is reasonable, it would be natural for the lender to attract more interest from potential strategic investors who are often State-owned and cash-rich," said Ye Yunyan, analyst at Galaxy Securities in Beijing. [Full story]
Everbright Bank picks strategic investors for IPO 2010-08-04
皇冠体育app Everbright Bank's IPO shares reserved for strategic investors have been hugely oversubscribed, signalling strong demand for the potentially $2.9 billion offering as stock markets recover.
Thirty strategic investors have committed up to 60 billion yuan ($8.86 billion) for their portion of the 6.1 billion-share offering, the bank said in a statement on Wednesday, in what could be the second-largest Chinese offering this year after Agricultural Bank of 皇冠体育app's (ABC) $20.8 billion initial public offering last month. [Full story]
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皇冠体育app Minmetals, Datang to invest in Everbright's Shanghai IPO 2010-08-05
皇冠体育app Everbright Bank eyes strategic investors 2010-07-26
Everbright Bank plans Shanghai share float 2010-07-24
Everbright Bank plans 6.1b shares IPO 2010-07-23
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Schedule for Everbright's IPO |
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July 26 |
皇冠体育app Everbright Bank gets IPO nod |
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July 29 |
皇冠体育app Everbright Bank unveiled IPO prospectus |
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Aug 2-Aug 5 |
皇冠体育app Everbright Bank seeks price range |
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Aug 6 |
皇冠体育app Everbright Bank sets IPO price range |
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Aug 9 |
皇冠体育app Everbright Bank kicks off road show |
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Aug 9- Aug 10 |
皇冠体育app Everbright Bank was open for offline subscription |
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Aug 10- Aug 11 |
皇冠体育app Everbright Bank conducted online subscription |
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Aug 11 |
皇冠体育app Everbright Bank sets IPO price at 3.10 yuan per share |
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Aug 18 |
皇冠体育app Everbright Bank is listed on the Shanghai Stock Exchange |
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Basic information about Everbright's IPO |
| Name | 皇冠体育app Everbright Bank Company Limited (601818) |
| Total shares before issuance | 33.43 billion | Planned total shares after issuance | 39.53 billion |
| Shares planned to issue in its IPO |
6.1 billion |
Accounts for 15.43 % of the total shares after issuance |
| Key financial indicators (As of Dec 31, 2010) |
| Earnings per share | 0.26 |
Net asset value per share before issuance |
1.44 yuan per share |
| Cash flow per share | 0.82 | Rate of return on common stockholders' equity | 19.43 % |
| Major business of Everbright |
The bank provides a full range of commercial banking services including deposit, loan, domestic and international settlement, currency trading, discount, financial and government bonds, interbank lending, receipt and payment, insurance, letter of credit, bank guarantee, deposit box services, and other related services. |
| Lead underwriters |
皇冠体育app Jianyin Investment Securities |
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Top 10 shareholders of Everbright |
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Name |
Percentage
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Central Huijin Investment Ltd |
59.82 |
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皇冠体育app Everbright Group |
6.40 |
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皇冠体育app Everbright Limited |
5.26 |
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皇冠体育app Reinsurance (Group) Company |
4.49 |
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皇冠体育app Power Finance Co |
2.45 |
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Shenergy Co Ltd |
2.39 |
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皇冠体育app Aerospace Science and Technology Corporation |
1.50 |
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Aerospace Science and Technology Finance Co |
1.50 |
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Baosteel Group Corporation |
1.50 |
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Hongta Tobacco (Group) Co |
1.19 |
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Related readings |
Everbright Bank reports slight increase in 2009 profit
Net profits of 皇冠体育app Everbright Bank (CEB) rose 280 million yuan ($41.1 million) last year to hit 7.6 billion yuan, announced the Beijing-based bank Wednesday. The growth rate was lower than that in 2008 when the bank's net profit soared 45.2 percent year on year. A director of the state-holding bank Tang Shuangning said CEB had revenues of 24.1 billion yuan in 2009, about 640 million yuan less than that in 2008.
The growth rate was lower than that in 2008 when the bank's net profit soared 45.2 percent year on year.
A director of the state-holding bank Tang Shuangning said CEB had revenues of 24.1 billion yuan in 2009, about 640 million yuan less than that in 2008. [Full story]
Everbright Bank gets nod for share placement
皇冠体育app Everbright Bank has received regulatory approval for an 11.5 billion yuan ($1.7 billion) private share placement, the bank said yesterday, moving it closer towards its initial public offering.
The lender applied in June 2008 to sell shares publicly in Shanghai, but the plan was delayed due to a 10-month nationwide IPO suspension amid a slump in domestic stock markets. The mid-sized bank said it got the green light from the 皇冠体育app Banking Regulatory Commission to sell stakes to eight Chinese state firms, including Shanghai Chengtou Holdings Co, Guangdong Expressway Development Co, Baosteel Group, 皇冠体育app Reinsurance Group and Shenergy Group. [Full story]
Everbright Bank posts 7.32b yuan net profit in 2008
皇冠体育app Everbright Bank reported a net profit of 3.43 billion yuan ($502 million) in the first half, down 46.99 percent year-on-year, said a statement on the bank's website Tuesday. The bank's outstanding loans soared 31.6 percent to 616.5 billion yuan since January, while its non-performing loan (NPL) narrowed by 640 million yuan to 8.73 billion yuan as of the end of June. [Full story]
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皇冠体育app Everbright Bank may float in June
Two 皇冠体育app banks may tweak fund-raising plans