CMB PUBLISHES H-SHARE OFFERING PRICE RANGE
AsiaInfo Services, September, 2006
AsiaInfo Services 09-06-2006 CMB Publishes H-share Offering Price Range BEIJING, Sep 06, 2006 (SinoCast via COMTEX) -- On September 1, China Merchants Bank (CMB), a leading commercial bank of China, published that the H-share offering price range is preliminarily priced at HKD 7.3 to HKD 8.55 or CNY 7.47 to CNY 8.75. CMB's closing price of A-share even reached CNY 8.34 on September 1. The strategic analyst of Beijing Securities Zhang Jiuhui analysis that one important reason for the continual increase of the A-share price of CMB is that most investors over evaluated the bank??s H-share price.
According to the underwriter syndicate, the offering price range should be HKD 8.24 to HKD 9.27, but the price range published was much lower than that. In this...
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