China Merchants Bank $2.4 billion IPO

September 17, 2006 at 7:42 am (China, Companies, Economics, Finance)

Last Friday China Merchants Bank, the most profitable bank in China, sold it’s shares in Hong Kong Stock Exchange. China Merchants is the second mainland bank being listed in Hong Kong this year. Despite Bank of China’s $11.2 billion record IPO in June, China Merchants boasts the highest return on equity among the country’s biggest banks. Its earnings surged at an annual speed of 40 percent from 2000 to 2005. The performace obviously eclipses Bank of China, and ICBC, which is planning a HK-mainland dual list this year.

China Construction Bank was just included on Hang Seng Index. Agriculture Bank is the only incurable one among the big four that is seemingly forgotten by the authority.


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