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CCB named "Equity Deal of the Year"
(Xinhua)
Updated: 2006-02-09 08:51
China Construction Bank (CCB) announced Wednesday it has received award for
its initial public offering (IPO) with the title of Equity Deal of the Year for
2005 by International Financing Review (IFR) Asia.
IFR Asia, an authoritative capital markets magazine in the region, named the
IPO of CCB "a transformational deal that fundamentally altered China's financial
landscape."
CCB is the first among the four state-owned commercial banks in China to list
overseas. The listing was the world's largest IPO in the past five years, the
largest IPO in Asia (excluding Japan) and the largest IPO among Chinese
enterprises.
IFR Asia cited the capabilities of CCB officials and full support of the
Chinese government as key drivers for the success of the IPO, as well as the
continued efforts of the sponsors, the intermediaries and the strategic
investors throughout the deal.
The magazine also highlighted significance of CCB on the financial sector of
China. "The listing has massively advanced the cause of financial reform in
China and paved the way for the rapid movement on the IPOs of at least two more
of the Big Four" state-owned commercial banks, the magazine said.
CCB has gained wide recognition in the global capital markets by winning a
number of prestigious awards. These include five major Finance Asia awards,
namely "Deal of the Year", "Best Equity Deal", "Best IPO", "Best Privatization"
and "Best China Deal".
In addition, the bank was awarded "The Best Domestic Bank in China" and won
four 2005 Asia Pacific "Triple A" awards - "Best Deal", "Best IPO", "Best
Equity" and "Best Issuer" by The Asset.
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