The bank now says its nonperforming loans total about 2.9 percent of assets, still the largest officially reported share among major Chinese banks. Many analysts say the actual figure is far higher.
The bank’s shares were sold simultaneously in Hong Kong and Shanghai. In Hong Kong, the stock was priced at about 3.20 Hong Kong dollars each, in the middle of the expected range. In Shanghai, the Class A shares — which only Chinese nationals can buy — were priced at 2.68 renminbi, the high end of expectations. The shares are expected to start trading in mid-July.
Global and Retail investors are running behind IPO,this was same scenario we saw when RELIANCE POWER IPO . It almost drained liquidity in system and we saw CHINESE INDEX touch new low on monday.Because CHINESE economy which is second in the world and control Commodities in a large extent ,we getting sign of a global sell off after IPO listing.
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