Agricultural Bank Locks In 11 Cornerstone Investors For H-Share IPO-Prospectus
24th Jun 2010 10:58
HONG KONG (Dow Jones)--Agricultural Bank of China Ltd., which kicked off the roadshow for the Hong Kong tranche of its multibillion dollar IPO Thursday, has attracted US$5.45 billion from 11 cornerstone investors, according to its prospectus released Thursday. Agricultural Bank of China Ltd., w
Read moreMARKET TALK:Expanded CNY Settlement L/T Positive To HK Bks -GS
24th Jun 2010 04:55
0355 GMT [Dow Jones] Goldman Sachs believes PBOC's announcement of making CNY-denominated trade settlement available worldwide is long-term positive for HK and its banking sector. Says this announcement and China's decision to allow more CNY flexibility, to be viewed as China's effort to increasingl
Read moreUPDATE: Agricultural Bank of China To Raise Up To US$11.41B From HK IPO
23rd Jun 2010 18:04
(Adds background, advisers on the deal) By Yvonne Lee and Nisha Gopalan Of DOW JONES NEWSWIRES HONG KONG (Dow Jones)--Agricultural Bank of China Ltd. is raising up to US$11.41 billion from the Hong Kong portion of its initial public offering, two people familiar with the deal said Wednesda
Read moreAgBank To Raise Up To US$11.41B From HK Part Of IPO -Sources
23rd Jun 2010 17:21
HONG KONG (Dow Jones)--Agricultural Bank of China Ltd. is raising up to US$11.41 billion from the Hong Kong portion of its initial public offering, two people familiar with the deal said Wednesday, moving a step closer to completing one of the world's biggest IPOs ever. The rural lender is selli
Read moreFinancial News: How Budget Tax Measures Will Affect The Banks
23rd Jun 2010 14:37
By Dominic Elliott Of FINANCIAL NEWS Measures announced as part of the U.K.'s emergency Budget will provide a fillip to Lloyds Banking Group's (LYG) business by the year 2012 and will hit earnings at the country's other four large universal banks by "just" GBP56 million on average--or less t
Read moreHEARD ON THE STREET: AgBank's Eclectic Backers
23rd Jun 2010 11:01
By Peter Stein and Andrew Peaple A DOW JONES COLUMN What do a pair of Middle Eastern sovereign wealth funds, an Australian media company, and a Dutch bank have in common? They're all among an unlikely squad of cornerstone investors for the Hong Kong portion of Agricultural Bank of China's ma
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:49
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0649 GMT [Dow Jones] U.K. banks will have to pay a combined GBP1.1 billion next year and GBP1.9 billion in 2012 in new taxes
Read moreMARKET TALK: UK Banks To Pay GBP1.1B In 2011 In New Tax
23rd Jun 2010 07:49
0649 GMT [Dow Jones] U.K. banks will have to pay a combined GBP1.1 billion next year and GBP1.9 billion in 2012 in new taxes imposed by the U.K. government, JP Morgan estimates. Adds this is 4% and 5% of group earnings for those years, respectively. Says the levy is "less punitive" than expected, wi
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:21
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relie
Read moreMARKET TALK: Lloyds Banking Seen Benefiting From Budget
23rd Jun 2010 07:21
0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relief in the form of an unexpected cut in the corporate tax rate, says Citigroup. Lloyds Banking Group (LLOY.LN) is the clear winner in the budget. It estimates the net effects on
Read moreOrders Top $1B For Bahrain Sovereign Wealth Fund Bond Debut
22nd Jun 2010 22:40
By Katy Burne Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Offers for Bahrain Mumtalakat Holding Co.'s first-ever bond issue are in the range of $1 billion to $1.25 billion, according to a source familiar with the sale. That means the sovereign wealth entity's debut could be larger than
Read moreUK Banks Hit With New Tax, But Escape Harsher Measures
22nd Jun 2010 17:29
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks escaped new taxes on profits and remuneration, but a widely expected levy on their balance sheets that could provide an extra GBP2 billion a year to the government raised warnings from the sector, which said the U.K.
Read moreStandard Chartered Prices EUR1.25B 2015 Bond At 99.777
22nd Jun 2010 16:22
LONDON (Dow Jones)--Standard Chartered PLC (STAN.LN) has priced its EUR1.25 billion, 2015-dated, senior, unsecured bond through joint-lead managers JP Morgan Chase & Co., Societe Generale SA, Standard Chartered and UBS AG, one of the banks said Tuesday. Terms are as follows: Amount: E
Read moreMARKET TALK: UK Bank Levy Better Than Feared - Oriel
22nd Jun 2010 16:15
1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities analyst Mike Trippitt. Oriel sees Barclays (BCS) having a relatively large exposure because of its big balance sheet, with Standard Chartered (STAN.LN) and HSBC Holdings (HBC)
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
22nd Jun 2010 16:15
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities a
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