in the rapid economic development, many local banks have sprung up, in the market occupies an important position for the development of the economy plays an inestimable role. This time, Jiangyin agricultural firms to reproduce the issue of why to postpone the issue, but also a topic of concern to everyone, and the following on the specific understanding of small.
Bank of Jiangsu listed, opened a new round of local banks listed tide. Before the listing, pricing issues of concern. There have been many people in the industry believe that, due to the issuance of the 1 billion 154 million shares of the Bank of Jiangsu dish is too large, investors need to purchase the top grid market capitalization of $3 million 460 thousand, while the general market value of small and medium investors will be difficult to buy the top. The start of the call back mechanism, online issue of the final success rate of 0.467%. The Bank of Jiangsu, the issue price of 6.27 yuan, corresponding to earnings ratio of 7.64 times the issue, but also higher than the A shares of 16 listed banks last month the average price earnings ratio of 6.1 times, there is fear of the risk of break.
almost with the Bank of Jiangsu issued pricing process is exactly the same, in August 2nd, Jiangyin agricultural firm "IPO and the results of the preliminary inquiry to postpone the issue of notice" said, according to the results of the preliminary inquiry, considering the issue of fundamentals, industry, the valuation of comparable companies, the market environment, raising capital requirements, underwriting risk factors consultation, to determine the issue price of 4.64 yuan, and net assets per share unchanged.
at the same time, the notice said, because the issue price earnings ratio of 10.17 times higher than the industry average last month, the static price earnings ratio of 6.11 times, scheduled for August 3, 2016 carried out online and offline purchase will be postponed to August 24, 2016.
this is almost exactly the same as the pricing process of the Bank of Jiangsu. However, a banking analyst said, "now we have new speculation, the probability is not generally break, unless the change of market environment, the stock market crash.
comparison of two banks in Jiangsu, the local data show that in 2013 ~2015, Jiangyin agricultural firm’s net profit was 1 billion 27 million yuan, 851 million yuan, 815 million yuan; rate of return on net assets were 19.64%, 14.12% and 12.13%; the rate of bad loans were 1.19%, 1.91% and 2.17%; the provision coverage rate was 236.63% 171.97%, 169.72%.
and the Bank of Jiangsu in 2013 ~2015 net profit of 8 billion 199 million yuan, respectively, $8 billion 699 million and $9 billion 505 million, net assets yield were 21.69%, 16.76% and 15.72%, non-performing loan ratio was 1.15%, respectively, and 1.43%. Provision coverage rates were 224.81 recommended