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BIZCHINA / News |
Four IPOs drain record capital(Chinadaily.com.cn)
Updated: 2007-07-16 15:16 The initial public offerings (IPOs) of four companies, which all ended subscriptions on July 12, drained a total of as much as 2.01 trillion yuan (US$264.2 billion) of capital out of the Chinese stock markets, 100 billion yuan over the market value of tradable shares in the Shenzhen bourse. Bank of Nanjing announced the opening price of its IPO at 11 yuan per share, straining liquidity of 1.03 trillion yuan. Online subscriptions totaled 78.6 billion shares with 864.3 billion yuan frozen, while offline subscriptions contributed to 15.8 billion shares with 173.8 billion yuan frozen. The opening price for Bank of Ningbo was set at 9.2 yuan per share, with a total frozen capital of 818.4 billion yuan. There were 1,098,865 valid online subscribers, buying 61.8 billion shares with 568.6 billion yuan frozen, and 338 offline subscribers, buying 27.2 billion shares with a frozen capital of 249.8 billion yuan. Guangdong Ronsen Super Micro-sire Co Ltd, a high-tech firm, announced the IPO price at 8.15 yuan per share, which froze a total of 88.2 billion yuan in capital. Valid online subscribers reached 783,321, purchasing one billion shares, while offline subscribers were 141, buying 559 million shares. Sichuan Gaojin Food announced 10.15 yuan per share for its IPO, draining 68.2 billion yuan of capital. Among the subscribers, 442,858 were online, buying 5.9 billion shares, while 159 were offline, purchasing 772 million shares.
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