Saturday, October 13, 2012

All preparations in order, on October 29

All preparations in order, on October 29, the bank of China issued A a-share matchs specifications, November 3, the bank of the original a-share shareholders according to RMB 2.36 yuan price per share, with every 10 strands matchs 1.0, the proportion of shares subscribed effective participation allotment proportion of 99.57%, A then a-share matchs confess match rate high.

The final match scheme from 10 matchs 1.1 into 10 matchs 1.0, the move reflects the share allotment scheme of flexibility, and reduced the rate of per diluted. In market bad situations, just adjust matchs share can successfully completed financing plan, and does not require too much to see the market "complexion".

But in time, but also for construction bank and icbc before the end of the complete refinancing provided A time window, which respectively on November 2 and 11 November issued a-share matchs instruction. At this time, distance China everbright bank and the agriculture bank of China IPO already clinched 2, 3 months, greatly reducing the bank financing for one mass market the negative effect.

H-shares match although is with a-share matchs also announced, but due to the differences between market share allotment program, h-shares matchs program really start is bobbing in a-share match after completion. 2010 on October 28, the bank on the Hong Kong stock exchange website published h-shares match suggestion announcement, to h-shares shareholders according to every 10 strands matchs 1.0 strands of proportion allotment.

With a-share encountered by the challenge is different, the actual operation of the h-share share allotment problem more trivial, in human, material is also A major war.

Above all, boc H shares overseas shareholder's country is more, whether to need to be a big problem for match overseas. "Considering larger costs, and the complex legal risk, went abroad to match in time and cost are uncontrolled." WuJianGuang said at the time, the bank capital adequacy condition has not allowed in time to wait. Through the careful research, finally, according to the relevant provisions of the Hong Kong securities law, the bank of China adopted the excluding clauses.

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