By rights, Agricultural Bank of China should have struggled: the least vigorous of the nation's big four banks, pitched into Asia's worst-performing equity market this year. But with all the machinery of the state behind it, the Shanghai leg of what could still become the world's biggest initial public offering was hardly going to flop. And it didn't. Granted, Thursday's first-day gain of less than 1 per cent was exceedingly modest: the last five banks to list in Shanghai recorded average bounces on debut of 13 per cent. But AgBank had not been priced to fly off the shelves. Underwriters had won a small premium to Bank of China, on a forward book value basis, on behalf of a bank that was deep in negative equity as recently as 2007.
按理说，manbetx3.0 农业银行(Agricultural Bank of China)的上市应该很艰难：manbetx3.0 四大国有银行中实力最弱的一家，在今年亚洲表现最糟的股市上市。但是，在国家机器的全力支持下，这宗仍有望成为manbetx app苹果 最大首次公开发行(IPO)的上市，几乎没有在上海搞砸的可能。事实上也确实没有搞砸。当然，周四不足1%的首日涨幅可谓极小：此前在上海上市的五家银行首日涨幅平均达到13%。但是，农行的发行价定得较高，没有提供首日大涨的空间。若按预期账面价值来计，承销商们为这家近在2007年还深陷负资产的银行赢得了相对于manbetx3.0 银行(Bank of China)的小幅溢价。