Biggest ever IPO starts in Hong Kong

时间：2006-10-16 06:22:30

（单词翻译:单击）


 
HONG KONG, Oct. 16 - Industrial and Commercial Bank of China (ICBC), the country's largest lender by assets, launches its H-share public offering in Hong Kong this morning, simultaneously1 issuing shares in Shanghai, making it the first-ever company to list on both A-and H-share markets at the same time.

 

The initial public offering (IPO) by the biggest of the mainland's Big Four banks, which analysts2 predicated might attract as much as HK$322 billion in its Hong Kong retail3 tranche, is likely to be the largest IPO in fund market history, surpassing the Japan's NTT Mobile Communications record-making US$18.4 billion offer.

 

ICBC's 4-day Hong Kong offer, which will sell 35.39 billion shares, has attracted a swarm4 of retail investors5, over subscribing6 the share 59 times, according to the median estimate of three Hong Kong-based analysts polled by China Daily.

 

The bank's H-share public offering will start at 9 am today and close on Thursday. The final offer price will be announced on October 23 and the dual7 trading debut8 is scheduled for October 27.

 

ICBC is likely to be the second mainland bank to become a major component9 of Hong Kong's benchmark Hang Seng Index. It is the fifth mainland bank to list in Hong Kong, following Bank of Communication, China Construction Bank, Bank of China and China Merchants Bank, the IPO's of all of which generated massive demand from investors.

 

Bank of China locked up about HK$300 billion in its Hong Kong offering in June, and bank watchers expect ICBC to raise at least 20 per cent more than that, given the scale of its share sale and the more attractive indicative price.

 

Buying stocks in H-share banks and mainland companies in general has become the preferred investment for Hong Kong investors and a hot topic in the community, as shareholders10 keep a close eye on the mainland economy's robust11 growth.

 

"Since 1999 we have implemented12 a series of reforms that have significantly transformed our business, operations and corporate13 culture," said ICBC President Yang Kaisheng in a statement before the offering. "We have emphasized in particular the development of a comprehensive risk management system and the continual improvement of asset quality."

 

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点击收听单词发音收听单词发音  

1 simultaneously 4iBz1o     
adv.同时发生地，同时进行地
参考例句：
  • The radar beam can track a number of targets almost simultaneously.雷达波几乎可以同时追着多个目标。
  • The Windows allow a computer user to execute multiple programs simultaneously.Windows允许计算机用户同时运行多个程序。
2 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
3 retail VWoxC     
v./n.零售；adv.以零售价格
参考例句：
  • In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
  • These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。
4 swarm dqlyj     
n.(昆虫)等一大群；vi.成群飞舞；蜂拥而入
参考例句：
  • There is a swarm of bees in the tree.这树上有一窝蜜蜂。
  • A swarm of ants are moving busily.一群蚂蚁正在忙碌地搬家。
5 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
6 subscribing f4597c606c49819f626a7ad1f1e080a8     
v.捐助( subscribe的现在分词 )；签署，题词；订阅；同意
参考例句：
  • I am subscribing for some of the books of a book club. 我预订了几本这家书刊俱乐部出版的书。 来自辞典例句
  • I am glad to have such a pleasant opportunity of subscribing myself. 今后益望努力前途，为国效力。 来自互联网
7 dual QrAxe     
adj.双的；二重的，二元的
参考例句：
  • The people's Republic of China does not recognize dual nationality for any Chinese national.中华人民共和国不承认中国公民具有双重国籍。
  • He has dual role as composer and conductor.他兼作曲家及指挥的双重身分。
8 debut IxGxy     
n.首次演出，初次露面
参考例句：
  • That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
  • The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。
9 component epSzv     
n.组成部分，成分，元件；adj.组成的，合成的
参考例句：
  • Each component is carefully checked before assembly.每个零件在装配前都经过仔细检查。
  • Blade and handle are the component parts of a knife.刀身和刀柄是一把刀的组成部分。
10 shareholders 7d3b0484233cf39bc3f4e3ebf97e69fe     
n.股东( shareholder的名词复数 )
参考例句：
  • The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
  • the company's fiduciary duty to its shareholders 公司对股东负有的受托责任
11 robust FXvx7     
adj.强壮的，强健的，粗野的，需要体力的，浓的
参考例句：
  • She is too tall and robust.她个子太高，身体太壮。
  • China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。
12 implemented a0211e5272f6fc75ac06e2d62558aff0     
v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效
参考例句：
  • This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
  • The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句
13 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

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