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China International Capital Corporation overcame a soft market with an opening bounce on its stock market debut in Hong Kong after the Chinese investment bank cut the size of its initial public offering by nearly a fifth to raise $811m.
中國國際金融股份有限公司（CICC，簡稱：中金）克服了市場弱勢，在香港市場上市首日開盤大漲。此前，這家中國投行把首次公開發行(IPO)的融資規模縮減了近五分之一，減至8.11億美元。
Shares in CICC, formed 20 years ago as a joint venture between Morgan Stanley and China Construction Bank, were priced at the top of the range. They were up 9.5 per cent in mid-morning trading on Monday at HK$11.26, after touching a high of $11.38.
中金上市定價定在區間最高端。該公司是摩根士丹利(Morgan Stanley)和中國建設銀行(CCB)在20年前組建的一家合資投行。周一，中金股價在早盤中段大漲9.5%，至每股11.26港元，之前一度漲至每股11.38港元的高點。
The debut coincided with an upturn in shares of mainland-based brokers following Beijing’s decision on Friday to resume IPOs after a four-month halt, which should give their revenue a boost. Citic Securities, the leader in mainland league tables, was 3 per cent higher in Hong Kong.
中金此次IPO恰逢中國內地券商股反彈。上周五，中國政府決定重啟暫停了4個月的IPO。重啟IPO應該會提振券商的收入。中國內地最大券商中信證券(Citic Securities)的H股上漲了3%。
CICC is best known for winning mandates from its fellow state-owned groups, notably on the blockbuster IPOs of China’s giant national corporations in the mid-2000s.
中金最聞名的一點，是贏得了一些國有集團上市的承銷權，特別是2005年左右中國大型國企的重磅IPO。
Morgan Stanley sold its 34 per cent stake in 2010 to a group led by KKR and TPG, neither of which is selling down in the IPO.
2010年，摩根士丹利把所持34%中金股份出售給以KKR和TPG為首的多家投資機構。KKR和TPG在中金IPO中均未減持。
Last year the Chinese bank delayed its plans to list after the departure of Levin Zhu, its chief executive and son of Zhu Rongji, China’s former premier.
去年，中金在其首席執行官、中國前總理之子朱云來(Levin Zhu)辭職后推遲了上市計劃。
Almost all the funds raised via the IPO, which was reduced from initial plans to raise at least $1bn, are fresh equity. Only China Investment Corporation — the country’s sovereign wealth fund and CICC’s dominant shareholder — lowered its holdings.
中金原計劃融資至少10億美元，后來縮減了融資規模。此次IPO融得的資金幾乎全為新增股本。唯有中國主權財富基金、中金的最大股東中投公司(CIC)此次進行了減持。
Following the float, CIC holds 30.1 per cent with GIC, Singapore’s sovereign wealth fund, owning 12.3 per cent. TPG and KKR have 7.7 per cent and 7.5 per cent respectively.
此次上市后，中投持股30.1%，新加坡主權財富基金——新加坡政府投資公司(GIC)持股12.3%。TPG和KKR分別持股7.7%和7.5%。
CICC said the funds would go towards developing sales and trading, wealth management including margin finance, and boosting its international presence.
中金表示，融得的資金將用于銷售和交易拓展、包括保證金融資在內的財富管理業務、以及擴大國際業務版圖。
