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Ping An, China Life become top 2 strategic investors in Daqin Railway |
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Written by Administrator
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Thursday, 20 July 2006 |
BEIJING, July 20 (InfoChina) – Daqin Railway Co., Ltd. completed its placement of A-shares to strategic investors on July 19, in which China’s insurance giants Ping An of China and China Life Insurance Group obtained 140 million shares and 110 million shares respectively, ranking 1st and 2nd among the 12 strategic investors.
Daqin’s IPO is priced at 4.95 yuan per share, with a P/E ratio of 18 times.
Daqin Railway will issue 3.0303 billion shares on the Shanghai Stock Exchange, making it the second largest heavyweight following the Bank of China (BOC, SH: 601988, HK: 3988). Of this, private placement to strategic investors, off-line placement and online subscription will account for 30%, 35% and 35% of the total respectively.
The off-line placement involved 25.65 billion shares and about 128.2 billion yuan was frozen, a bit higher than that of BOC’s 128.1 billion yuan.
Online subscription will start on July 21. |
China Stock News