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China springs an IPO juggernaut | Advantage Banking

For the coming $25bn IPO from Petrobras and the $50bn in Capital raising for other China banks it would be a red letter day [pun unintended] as the Ag Bank of China IPO gets subscribed 16 times for the over 70 billion shares on offer. At least 3 SWFs loosened their purse strings to become anchor investors in the public fund raising for the last of the big 4 from Shanghai as the Chinese ship remains on even keel despite the perspiring government and even the trading fraternity, that is now used to keeping up to one third of their folio always tied in short positions on commodities, Europe and everything else. The greek CDS is 1025 bp~ almost 2x the Lehman spreads in September 09 as also the greek german sovereign spreads have moved to thrice their March values at 825bps

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This entry was posted on June 25, 2010 by in Banking, China, Financial Markets, Global and tagged , , .

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