邮储银行IPO是市场信心试金石
<p><span word="Back">Back</span> <span word="when">when</span> <span word="China">China</span> <span word="formed">formed</span> <span word="Postal">Postal</span> <span word="Savings">Savings</span> <span word="Bank">Bank</span> <span word="in">in</span> 2007, <span word="its">its</span> <span word="already">already</span>-<span word="listed">listed</span> <span word="banking">banking</span> <span word="behemoths">behemoths</span> <span word="garnered">garnered</span> <span word="valuations">valuations</span> <span word="of">of</span> <span word="at">at</span> <span word="least">least</span> <span word="twice">twice</span> <span word="their">their</span> <span word="book">book</span> <span word="value">value</span> <span word="and">and</span> <span word="enthusiasm">enthusiasm</span> <span word="for">for</span> <span word="the">the</span> <span word="country">country</span> <span word="knew">knew</span> <span word="no">no</span> <span word="bounds">bounds</span>. <span word="Now">Now</span> <span word="PSBC">PSBC</span> <span word="is">is</span> <span word="its">its</span> <span word="fifth">fifth</span>-<span word="largest">largest</span> <span word="bank">bank</span> <span word="by">by</span> <span word="assets">assets</span> <span word="and">and</span> <span word="is">is</span> <span word="about">about</span> <span word="to">to</span> <span word="brave">brave</span> <span word="the">the</span> <span word="Hong">Hong</span> <span word="Kong">Kong</span> <span word="market">market</span> — <span word="even">even</span> <span word="though">though</span> <span word="its">its</span> <span word="fellows">fellows</span> <span word="have">have</span> <span word="not">not</span> <span word="traded">traded</span> <span word="near">near</span> <span word="book">book</span> <span word="value">value</span> <span word="in">in</span> <span word="more">more</span> <span word="than">than</span> <span word="a">a</span> <span word="year">year</span>.</p><p>在2007年中国邮政储蓄银行(<span word="PSBC">PSBC</span>)成立的时候，中国那些业已上市的大银行的估值至少是它们账面价值的两倍，而且投资者对中国市场趋之若鹜。如今，按资产计算是中国第五大银行的中国邮政储蓄银行即将勇敢赴香港上市——即便中资银行在逾一年时间里的股价大大低于每股账面价值。</p><p><span word="That">That</span> <span word="joins">joins</span> <span word="a">a</span> <span word="list">list</span> <span word="of">of</span> <span word="other">other</span> <span word="challenges">challenges</span> <span word="facing">facing</span> <span word="the">the</span> <span word="world">world</span>’<span word="s">s</span> <span word="biggest">biggest</span> <span word="public">public</span> <span word="offering">offering</span> <span word="since">since</span> <span word="Alibaba">Alibaba</span> <span word="blasted">blasted</span> <span word="past">past</span> <span word="fevered">fevered</span> <span word="expectations">expectations</span> <span word="and">and</span> <span word="raised">raised</span> <span word="a">a</span> <span word="record">record</span> $25<span word="bn">bn</span> <span word="in">in</span> <span word="New">New</span> <span word="York">York</span> <span word="two">two</span> <span word="years">years</span> <span word="ago">ago</span>. <span word="Looking">Looking</span> <span word="for">for</span> <span word="between">between</span> $8<span word="bn">bn</span> <span word="and">and</span> $10<span word="bn">bn</span>, <span word="PSBC">PSBC</span> <span word="is">is</span> <span word="altogether">altogether</span> <span word="more">more</span> <span word="modest">modest</span>. <span word="It">It</span> <span word="will">will</span>, <span word="however">however</span>, <span word="be">be</span> <span word="a">a</span> <span word="far">far</span> <span word="greater">greater</span> <span word="litmus">litmus</span> <span word="test">test</span> <span word="of">of</span> <span word="investor">investor</span> <span word="sentiment">sentiment</span> <span word="towards">towards</span> <span word="China">China</span>.</p><p>此外，将成为自阿里巴巴(<span word="Alibaba">Alibaba</span>)上市以来全球最大<span word="IPO">IPO</span>的中国邮政储蓄银行上市还面临其他一系列挑战。两年前，阿里巴巴打破狂热预期，在纽约上市筹得创纪录的250亿美元资金。中国邮政储蓄银行预计募集金额为80亿至100亿美元之间，总体来说低调得多。然而，它将成为测试投资者对中国市场的情绪的一块重要得多的试金石。</p>
页:
[1]