ABC is likely to go public next year!

ABC is likely to go public next year!
Oct 22, 2008 04:17
ZOEY Points: Join Date: Nov 29, 2004 Status: offline	Yesterday, the comprehensive shareholding reform plan of the Agricultural Bank of China was approved by the State Council of PRC. According to Guo Tianyong, a professor, the shareholding reform has paved the way for ABC to go public and ABC is estimated to issue its IPO in the first half year of 2009. After finishing shareholding reform, Central Huijin Investment Ltd. Co will invest 20 billion dollars in ABC and take 50 percent stake in ABC. The Ministry of Finance takes another 50 percent stake. According to ABC's annual report in 2007, the total balance of the non-performing or bad loans is 817.973 billion yuan. The source said. Before ABC, BOC, ICBC and CCB have gone in public after finishing their shareholding reform. CCB went public in Hong Kong market in 2005. BOC got listed in A-share market in July of 2006. ICBC went public in both H and A markets.

Oct 22, 2008 04:17

ZOEY
Points:
Join Date: Nov 29, 2004
Status: offline

Yesterday, the comprehensive shareholding reform plan of the Agricultural Bank of China was approved by the State Council of PRC. According to Guo Tianyong, a professor, the shareholding reform has paved the way for ABC to go public and ABC is estimated to issue its IPO in the first half year of 2009.

After finishing shareholding reform, Central Huijin Investment Ltd. Co will invest 20 billion dollars in ABC and take 50 percent stake in ABC. The Ministry of Finance takes another 50 percent stake. According to ABC's annual report in 2007, the total balance of the non-performing or bad loans is 817.973 billion yuan. The source said.

Before ABC, BOC, ICBC and CCB have gone in public after finishing their shareholding reform.

CCB went public in Hong Kong market in 2005.
BOC got listed in A-share market in July of 2006.
ICBC went public in both H and A markets.

Oct 27, 2008 21:51	#1
DREAMLIFE Points: Join Date: Sep 5, 2007 Status: Offline	Why do these banks go public? Are they trying to accumulate enough capital to offset their non-performing loans?

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