11 banks seek $8 bln A-Share listing  

11家拟IPO银行募资规模将逾500亿元

11家城商银行计划在中国A股市场上市，《证券日报》记者根据11家银行拟发行的规模上限和每股净资产（被多家银行描述为发行价格的下限）大致测算出11家银行的合计募集资金的规模约为517亿元。[查看全文]

(ECNS) – Eleven city commercial banks are poised for a return to the Chinese market with initial public offerings after a seven-year hiatus since China Construction Bank listed in 2007.

Nine banks said they plan to list on the Shanghai stock exchange while the other two are seeking to list on the smaller Shenzhen bourse.

None of the banks disclosed their fundraising targets, but based on their top-range prices and the net asset value per share (described by banks as their minimum price), the 11 lenders plan to pull in a total of 51.7 billion yuan ($8.3 billion), according to the Securities Times.

Bank of Shanghai, with a net asset value per share of 11.9 yuan ($1.9) as of the end of 2013, will seek to raise 14.28 billion yuan ($2.3 billion) with a maximum of 1.2 billion shares, the biggest IPO fund of the 11 banks. Agricultural banks are seeking relatively small IPOs.

Of the 16 banks already listed on the Chinese mainland, 15 see their stocks traded at a price-to-book ratio below 1 – an indication of lukewarm investor interest.

Analysts predict the price of the 11 banks won't be much higher than their net asset value per share, as concerns remain about their lax lending practices and poor risk management.