China Merchants Bank shares began to trade in HKex today after yestoday's hot off-board transactions which dark-price once jumped 11 yuan yestoday and closed at 10.6 yuan - far higher than its offering price of 8.55 yuan, and the Price-Book value ratio soared 3.19 time.
The lender announced the public offering have sold 29.265 billion shares, oversubscribing 266 times and blocking up 250.2 billlion yuan, with a success ratio of 30%. Meanwhile, 14 warrants aslo will be listed in Singapore Stock Exchange today.
Sources in sector expected the bank's stocks price may jump 20% to 30% in first day, that means one hand shares could earn 1000 yuan.
Furthermore, Hong Kong Stock Exchange (HKex) reduced the time for applying to issue warrants from 20 days after listing to 5 days, which means the China Merchants Bank could issue lots of warrants in the first month after listing.