On January 11, Bank of Lanzhou announced the results of the initial public offering of shares, online investors abandoned 3.5412 million shares, the amount of abandonment was 12.6422 million yuan, at the same time, 24 offline investors such as Bank of China Fund Management Co., Ltd. and ICBC Credit Suisse Fund Management Co., Ltd. abandoned 60,700 shares, with a total of 216,500 yuan.
According to the announcement, the number of shares abandoned by Lanzhou Bank was all underwritten by CITIC Construction Investment Securities Co., Ltd., and the total number of underwritten shares was 3.6019 million shares, and the underwriting amount was 12.8587 million yuan, with an underwriting ratio of 0.63%.
It is understood that the total number of shares issued by Lanzhou Bank in the initial public offering does not exceed about 570 million shares, and the issue price is 3.57 yuan per share; of which the final number of shares issued online is 513 million shares, accounting for 90.00% of the total issuance; the final number of shares issued offline is 56.9567 million shares, accounting for 10.00% of the total number of shares issued.
It is worth noting that the latest data shows that the net assets of Lanzhou Bank are 4.33 yuan / share, which means that the stock has not yet been listed, and the issue price of Lanzhou Bank has been "broken".
Although Lanzhou Bank became the first bank to break the net issuance of A shares, but its issue price corresponding to the price-earnings ratio of 22.97 times, much higher than the industry average, the industry's leading China Merchants Bank currently has a price-earnings ratio of about 10 times, Wind data shows that the P/E ratio of 41 A-share listed banks is 5.38 times on average, and the median is 6.33 times. For the issue price of 3.57 yuan / share of Lanzhou Bank, some investors believe that it is outrageously expensive, which is "selling chicken feathers at the price of gold". (Text | Hu Wenliu, Weekly Magazine, |Sun Yue)