(单词翻译:单击)
Chen Xiaoxian (R), president of China CITIC Bank, gets set to ring the gong to signal the bank's debut1 at the Shanghai Stock Exchange on Friday, April 27, 2007. The bank raised a total of $5.4 billion in its initial public offering, making it the world's biggest IPO so far this year. |
Apr.28 - The share price of China CITIC Bank, the country's seventh-largest lender by total assets, almost doubled on market debut at the Shanghai bourse on Friday, beating analysts3' expectations.
The Shanghai stock market, however, fell despite the rise in China CITIC Bank shares, which jumped 96 percent from the issuing price of 5.8 yuan. The shares opened at 9.21 yuan and closed at 11.37 yuan. The bank raised a total of $5.4 billion in its initial public offering, making it the world's biggest IPO so far this year. "We are satisfied with the opening price of CITIC Bank, which exceeded my expectations," said Chen Xiaoxian, president of China CITIC Bank, at a press briefing. Chen said CITIC Bank will strengthen its business focus on corporate4 banking5, and rectify6 deficiencies in other areas, including retail7 banking. "We will strengthen our cooperation with foreign investor8, BBVA, following the stock listing, and will find opportunities for acquisition and mergers9 if government policy permits," he said. China CITIC Bank has frozen a total of 1.2 trillion yuan in online subscriptions10, the largest amount in China's A-share market. The Shanghai composite index dropped 0.61 percent to close at 3759.87, led by a drop in banking stocks. Meanwhile, CITIC Bank's Hong Kong-listed H shares rose only 14 percent to HK$6.68, plagued by overall market shares falling sharply amid worries that China may announce further economic-tightening measures during the Labor11 Day holiday next week "It is a bit disappointing to see shares in CITIC Bank close at such a price, the recent results of all Hong Kong-listed mainland companies, especially mainland banks, are pretty strong," said Paul Lee, senior analyst2 with Hong Kong-based Taifook Securities. "Speculation12 over new policies to cool down the overheated economy made investors13 cautious. The market might undergo a correction later," Lee said. Nevertheless, investors are optimistic about China's economy and its banking industry, he added. Chinese mainland banks have raised about $60 billion in stock offerings in the past two years as rapid economic growth drives demand for financial stocks. Lenders, including the Industrial and Commercial Bank of China and Bank of China, saw their domestic shares surge last year, enticing14 smaller rivals to follow suit. The country's economic growth accelerated to 11.1 percent in the first quarter, boosting the appeal of mainland equities15.
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1
debut
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n.首次演出,初次露面 | |
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2
analyst
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n.分析家,化验员;心理分析学家 | |
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3
analysts
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分析家,化验员( analyst的名词复数 ) | |
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4
corporate
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adj.共同的,全体的;公司的,企业的 | |
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5
banking
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n.银行业,银行学,金融业 | |
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6
rectify
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v.订正,矫正,改正 | |
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7
retail
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v./n.零售;adv.以零售价格 | |
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8
investor
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n.投资者,投资人 | |
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9
mergers
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n.(两个公司的)合并( merger的名词复数 ) | |
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10
subscriptions
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n.(报刊等的)订阅费( subscription的名词复数 );捐款;(俱乐部的)会员费;捐助 | |
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11
labor
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n.劳动,努力,工作,劳工;分娩;vi.劳动,努力,苦干;vt.详细分析;麻烦 | |
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12
speculation
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n.思索,沉思;猜测;投机 | |
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13
investors
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n.投资者,出资者( investor的名词复数 ) | |
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14
enticing
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adj.迷人的;诱人的 | |
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15
equities
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普通股,股票 | |
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