BoC success spurs China listings
China is preparing to list a number of large companies on mainland stock exchanges following the successful first day's trading in Bank of China yesterday. The China Securities and Regulatory Commission is examining an application for an IPO from Daqin Railway, a coal transportation company hoping to raise Rmb14bn ($1.8bn) from a listing.
Other companies expected to list in the coming weeks are Air China and CNOOC, the oil group.
Shares of BoC, the second-largest bank in the country, jumped 23 per cent on their first day yesterday in what is the largest listing in Shanghai, with the bank raising Rmb20bn ($2.5bn).
The shares opened trading at Rmb3.99, a rise of 29 per cent from the IPO price of Rmb3.08 per share, before falling back slightly to close at Rmb3.79, although some analysts suggested BoC was now slightly overvalued.
Regulators hope several top Chinese companies will list in Shanghai in the coming months, which they believe will reinforce confidence in the market, especially among retail investors.
中行A股首发成功推动企业上市
继中国银行(Bank of China)昨天首日上市获得成功后，中国准备让一系列大型企业在内地股票市场上市。
中国证监会(CSRC)正在审查大秦铁路(Daqin Railway)的首发申请。大秦铁路是煤炭运输公司，希望通过上市募集140亿元人民币(合18亿美元)资金。
预计未来几周上市的其它公司还有中国国际航空公司(Air China)和石油集团中海油(CNOOC)。
中国第二大银行中行股票昨天上市当日上涨23%。中行的上市规模为沪市最大，筹资200亿元人民币(合25亿美元)。
中行股票以3.99元人民币开盘，较每股3.08元的发行价上涨29%，随后股价略有回调，收盘报3.79元。而一些分析师表示，目前中行股价略为高估。
该收盘价使得中行总市值达约7000亿元人民币，使之成为上交所市值最大的公司。
在停发新股将近一年后，监管部门上月重新启动了首发市场，中行是自此以来上市的大陆首家大型企业。
由于中行的A股发行价相对目前香港股价存在一定折扣，分析师们预期开盘股价会飙升。尽管如此，实际涨幅仍达到分析师期望的上限。
监管部门希望，未来几个月内，能有数家顶级中国企业登陆沪市，他们认为，这些公司将增强市场信心，尤其是散户投资者的信心。
分析师称，散户对中行股票的强劲需求表明，投资者的股票需求被压抑。
