Everbright Bank A-share market debut today, the trend will be significantly stronger than the Agricultural Bank of China.

<P> The face of today's premiere of China Everbright Bank, yesterday (August 17) shocks to the financial sector to meet the income level of the gesture, and took off his "green shoe" after the ABC still strong to stand on the issue price of 2.68 yuan .above. .Although the Fund is expected to Everbright in the Agricultural Bank of China listed or strong trend, but around the Everbright Bank, Agricultural Bank of China (2.69, -0.02, -0.74%) and the whole view of the financial sector, the Fund's differences remain. .</ P> <P> active retail purchase </ P> <P> last Thursday (August 12), China Everbright Bank issued on the pricing issue under the net results and the success rate of online notice. .And the Agricultural Bank of China, as China Everbright Bank to their own design of the "green shoe" mechanism, and limit the exercise of 15% over-allotment option. .Everbright Bank to participate in the final online purchase 900 million to investors over-allotment shares. .And if one month after the "green shoe" fully exercised, the total size of China Everbright Bank to issue 70 million shares. .Among them, the strategic placement of shares were allocated 3.0 billion, net 1.55 billion shares under the placement, on-line issue of 2.45 billion shares. .</ P> <P> Bank will become the smallest market capitalization stocks </ P> <P> performance after the listing from the Agricultural Bank of China, "green shoe" mechanism, although its stock price stability played an important role, but the ABC still has not been able .shrouded in the head to get rid of the "break" the shadow. .July 15 ~ 19, August 10 ~ August 13, ABC "shoes" twice when the war started to defend the issue price. .Monday "shoes" was stronger after though, but again several times yesterday to explore the issue price mark. .The same "shoes" in the trend after the listing of Everbright Bank to become the focus of the market. .Most market participants believe that the market capitalization after the listing of Everbright Bank, a very small, easy to attract capital after the listing of care, the trend should be stronger than the Agricultural Bank. .</ P> <P> listed China Everbright Bank, today issued for online circulation of 2.45 billion shares, according to the issuing price of 3.10 yuan / share basis, this part of the stock market value of only 7.595 billion yuan. .As of yesterday's close, A-share market capitalization of the bank shares in circulation - Bank of Nanjing (11.52,0.16,1.41%) (601,009, the closing price 11.52 yuan) market capitalization reached 27.507 billion yuan, 3.62 times that China Everbright Bank. .The Agricultural Bank of China's market capitalization was 27.735 billion yuan, 3.65 times that China Everbright Bank. .</ P> <P> valuation levels or slightly underestimated </ P> <P> Also worth mentioning is that the fair value of the Everbright Bank interval, each brokerage analysts views are basically the same. .Such as CITIC Securities (12.69,0.00,0.00%) pointed out that China Everbright Bank in the supplementary capital will enter the fast growing, extension and expansion of assets and asset liability structure of the optimal level of net interest margin will increase the company's retail business has .and intermediate business benefits will continue to flourish. .Company at an issue price corresponds to 1.6 times the PB 2010, is expected to reach the market after the stock market average of 1.8 times the PB or slightly higher, the stock room to grow 5% to 15%, and the reasonable value of the range of 3.3 to 3.6 yuan. .</ P> <P> and Northeast Securities (23.91,0.21,0.89%) thought that, in the other listed banks, the China Everbright Bank and China CITIC Bank (5.92,0.09,1.54%) the most comparable. .CITIC Bank is currently dynamic PE and PB 2010 is 9.24 times and 1.66 times. .Given the current valuation of the overall level of bank shares has been slightly undervalued at the Everbright Bank long-term reasonable valuation should be 11.5 to 12.5 times 2010 PE, reasonable price range of 3.22 ~ 3.50 yuan..