July 15, 2010 (Chinavestor) Agricultural Bank of China (SHA:601288), the last of China's major banks to sell shares to the public, gained just 0.8% in its debut in Shanghai, lagging the performance of all Chinese banks that have gone public over the last several years. Agricultural Bank’s (SHA:601288) four biggest competitors rose at least 5.1 percent on their Shanghai debuts, according to Bloomberg News.
Over 4 billion AgBank (SHA:601288) shares changed hands in the stock's first day of trading. The company expects to raise $22.1 billion between initial public offerings in Shanghai and Hong Kong, making the IPO the largest ever. AgBank's (SHA:601288) first day performance gives the company a market cap of $127 billion and makes China home to four of the 10 largest banks in the world.
Nearly 190 firms have debuted in Shanghai this year despite the fact that the Shanghai Composite Index (SHA:000001) is down 26% year-to-date, making it the fifth-worst performing bourse in the world.
Agricultural Bank’s (SHA:601288) Shanghai price represents 1.55 times end-2010 book value as estimated by the IPO underwriters, Bloomberg reported.
June 4, 2010 (Chinavestor) Shares of China Finance Online (NASDAQ:JRJC) surged 6% on Friday by 1:00 P.M. while the market experienced a broad sell-off after disappointing jobs data. China Finance Onl...
May 24, 2010 (Chinavestor) Shares of Chinese financial software provider, Longtop Financial (NYSE:LFT), soared 11.3% by 1:00 P.M. on Monday following a better-than-expected 2010 fourth quarter ...
March 24, 2010 (Chinavestor) Bank of China (HKG:3988) (SHA:601988), the second largest Chinese financial institution, reported a sound 2009 financial report. Revenues, net income, EPS and dividend...
March 18, 2010 (Chinavestor) China Finance Online (NASDAQ:JRJC), a financial data provider company, reported 2009 four quarter and full year financial results two days ago. Shares of the company ...
