China CITIC Bank's A shares surge on debut_财经新闻

China CITIC Bank's A shares surge on debut

文章来源：文章作者：发布时间：2007-04-29 06:31 字体： [大中小]　进入论坛

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Chen Xiaoxian (R), president of China CITIC Bank, gets set to ring the gong to signal the bank's debut¹ at the Shanghai Stock Exchange on Friday, April 27, 2007. The bank raised a total of $5.4 billion in its initial public offering, making it the world's biggest IPO so far this year.

Apr.28 - The share price of China CITIC Bank, the country's seventh-largest lender by total assets, almost doubled on market debut at the Shanghai bourse on Friday, beating analysts³' expectations.

The Shanghai stock market, however, fell despite the rise in China CITIC Bank shares, which jumped 96 percent from the issuing price of 5.8 yuan. The shares opened at 9.21 yuan and closed at 11.37 yuan.

The bank raised a total of $5.4 billion in its initial public offering, making it the world's biggest IPO so far this year.

"We are satisfied with the opening price of CITIC Bank, which exceeded my expectations," said Chen Xiaoxian, president of China CITIC Bank, at a press briefing.

Chen said CITIC Bank will strengthen its business focus on corporate⁴ banking⁵, and rectify⁶ deficiencies in other areas, including retail⁷ banking.

"We will strengthen our cooperation with foreign investor⁸, BBVA, following the stock listing, and will find opportunities for acquisition and mergers⁹ if government policy permits," he said.

China CITIC Bank has frozen a total of 1.2 trillion yuan in online subscriptions¹⁰, the largest amount in China's A-share market.

The Shanghai composite index dropped 0.61 percent to close at 3759.87, led by a drop in banking stocks.

Meanwhile, CITIC Bank's Hong Kong-listed H shares rose only 14 percent to HK$6.68, plagued by overall market shares falling sharply amid worries that China may announce further economic-tightening measures during the Labor¹¹ Day holiday next week

"It is a bit disappointing to see shares in CITIC Bank close at such a price, the recent results of all Hong Kong-listed mainland companies, especially mainland banks, are pretty strong," said Paul Lee, senior analyst² with Hong Kong-based Taifook Securities.

"Speculation¹² over new policies to cool down the overheated economy made investors¹³ cautious. The market might undergo a correction later," Lee said.

Nevertheless, investors are optimistic about China's economy and its banking industry, he added.

Chinese mainland banks have raised about $60 billion in stock offerings in the past two years as rapid economic growth drives demand for financial stocks.

Lenders, including the Industrial and Commercial Bank of China and Bank of China, saw their domestic shares surge last year, enticing¹⁴ smaller rivals to follow suit.

The country's economic growth accelerated to 11.1 percent in the first quarter, boosting the appeal of mainland equities¹⁵.

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收听单词发音

1 debut
n.首次演出，初次露面
参考例句：
That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。 The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

2 analyst
n.分析家，化验员；心理分析学家
参考例句：
What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？ The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

3 analysts
分析家，化验员( analyst的名词复数 )
参考例句：
City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。 I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

4 corporate
adj.共同的，全体的；公司的，企业的
参考例句：
This is our corporate responsibility.这是我们共同的责任。 His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

5 banking
n.银行业，银行学，金融业
参考例句：
John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。 He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 rectify
v.订正，矫正，改正
参考例句：
The matter will rectify itself in a few days.那件事过几天就会变好。 You can rectify this fault if you insert a slash.插人一条斜线便可以纠正此错误。

7 retail
v./n.零售；adv.以零售价格
参考例句：
In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。 These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

8 investor
n.投资者，投资人
参考例句：
My nephew is a cautious investor.我侄子是个小心谨慎的投资者。 The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

9 mergers
n.（两个公司的）合并( merger的名词复数 )
参考例句：
Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。来自辞典例句 Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。来自英汉非文学 - 政府文件

10 subscriptions
n.（报刊等的）订阅费( subscription的名词复数 )；捐款；（俱乐部的）会员费；捐助
参考例句：
Subscriptions to these magazines can be paid in at the post office. 这些杂志的订阅费可以在邮局缴纳。来自《简明英汉词典》 Payment of subscriptions should be made to the club secretary. 会费应交给俱乐部秘书。来自《简明英汉词典》

11 labor
n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦
参考例句：
We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。 He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

12 speculation
n.思索，沉思；猜测；投机
参考例句：
Her mind is occupied with speculation.她的头脑忙于思考。 There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

13 investors
n.投资者，出资者( investor的名词复数 )
参考例句：
a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子 a cash bonanza for investors 投资者的赚钱机会

14 enticing
adj.迷人的；诱人的
参考例句：
The offer was too enticing to refuse. 这提议太有诱惑力，使人难以拒绝。 Her neck was short but rounded and her arms plump and enticing. 她的脖子短，但浑圆可爱；两臂丰腴，也很动人。

15 equities
普通股，股票
参考例句：
These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。 They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。

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