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Bank of China I.P.O. Raises $9.7 Billion
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No question about it there is herd behaviour, as one of the research analysts points out. Almost $10 billion raised in a Bank of China IPO. For retail investors this is oversubscribed by as much as 80 times and oversubscribed for instituional investors by 20 times. And China's banks lack transparency about the amount of bad loans on their books. Estimates of Ernst and Young and OECD suggest huge amount of bad loans still on the books. IMF analysis by Richard Podpiera as cited in the NYT suggest that the lending to favored parties continues unabated. The Russians are catching on about doing IPO's for their oil companies.The OECD estimate cited by the NYT is for another $203 billion needed to be injected in the banking system by China.
Bank of China
05/24/2006
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Bank of China I.P.O. Raises $9.7 Billion
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The Tip of the Iceberg for China's Banks
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China IPO's.
05/24/2006
Ag bank and other Chinese IPO's.
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Beijing Plans to Loosen Control Over IPO System
Wall Street Journal 11/18/2013
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Agricultural Bank of China Raises $19 Billion in I.P.O.
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China Unveils IPO Guidelines Ahead of Expected New-Offering Flood
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Hong Kong IPOs Come Under Fire
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IPO Market Feels Chill From Stock Plunge
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