IPO Will Be The Largest Single Incoming Bank To Carry 10 Trillion Assets.

The first tier market of A shares will usher in a big Mac project.

According to the website of the securities and Futures Commission, the eighteenth issuance audit committee plans to convene the 153rd and 154th issuance audit committee working conference in October 24th to examine the 5 items of the first part of the Limited by Share Ltd including the postal savings bank of China (hereinafter referred to as the postal savings bank) in 2019.

In fact, IPO of postal savings bank has attracted much attention from the market. On the one hand, it submitted the application of A share listing only in June this year. It has only been more than 4 months ago. This speed is rarely seen in queuing enterprises. On the other hand, as of this year, the total assets of China Post postal savings bank has exceeded 10 trillion yuan, and the scale of issuance that does not exceed 6% of the total share capital has probably made it one of the largest IPO projects in recent years.

Some analysts believe that, taking into account the almost all the bank shares IPO almost passed, the postal savings bank's meeting almost is a certainty.

On Lightning

As the last big state-owned bank not listed on A shares, the postal savings bank will be examined in October 24th.

For the postal savings bank, it has been ready for 7 years of A share listing is in a "close door" situation.

As early as 2012, the postal savings bank started the IPO progress, but at that time A shares IPO suspended and many other reasons, its A share IPO progress has been slowing down.

At the same time, the Hongkong market has become the preferred place for its listing. In 2016, the postal savings bank completed H-share listing, issuing 12 billion 107 million shares and raising HK $57 billion 600 million, becoming the largest IPO project in the world. Once the A share is listed, the postal savings bank will soon become the last "A+H" state-owned company.

According to the pre disclosure information of the postal savings bank, as of this year's China Daily, the total assets of the postal savings bank has exceeded 10 trillion, and the number of A shares issued by the postal savings bank will not exceed 5 billion 172 million shares, which will not exceed 6% of the total share capital issued by A shares. According to the net assets of 5.49 yuan, the maximum size of the postal savings bank's total fund-raising will reach 28 billion 394 million yuan.

This means that the fund raising scale of the postal savings bank, which is about to go up, is likely to exceed Naka Hiro's previous fund-raising of 12 billion 500 million yuan. It will not only become the largest new stock raising fund in the year, but also the second largest IPO project after the 30 billion 58 million Yuan Guotai Junan in the past five years.

As a big Mac project, the IPO efficiency of postal savings bank is very fast. Its listing application was approved by the CIRC and accepted by the SFC in June 12th and 18th this year, and only after more than 4 months, the project has reached the trial conference.

In the industry's view, as a big state-owned bank, the postal savings bank owns and maintains a more stable institutional supervision and communication mechanism, so its listing matters are relatively more efficient in the IPO process.

"On the one hand, financial audit of financial enterprises is relatively simple, and compliance and information disclosure are more clear and transparent. On the other hand, postal savings as a big state-owned bank itself has the daily supervision and communication of the CIRC, so it is more efficient in IPO procedures." An investment bank in Shanghai said, "but in 4 months from the declaration to the meeting, this is very fast in the IPO audit of financial stocks."

In its view, the postal savings bank will be unsuspense.

"The daily supervision of bank stocks is relatively strict, with huge volume and good profitability. It is fully capable of meeting the listing requirements." The investment bank analysts said, "bank shares are not listed, but let alone big state-owned companies, postal savings will be basically no suspense."

Or short profit making

A big Mac A share listing feast often does not miss many star capital in the ranks of shareholders.

In 2015, when the postal savings bank introduced strategic investors, it introduced Tencent, Ali's two major industrial capital into shareholders. As of this year's China Daily, Tencent and Ali have respectively held 0.16% and 0.91% shares of the postal savings bank through Limited by Share Ltd's Shenzhen Tencent computer network limited and Zhejiang ant small and micro gold service group Limited by Share Ltd respectively.

While accepting financial investment, the postal savings bank also collaborated with the ants Tencent and the Tencent in the fields of small and micro finance, deposit and loan business.

"Our bank pays particular attention to all-round cooperation with ants, gold clothing and Tencent. In cooperation with ant Tencent and the Tencent, the bank provides online consumer financial services and sets up offline new retail experience centers, while promoting all-round cooperation in the fields of electronic payment, open payment platform, consumer finance, small and micro finance, company deposit and loan, and technology innovation, and creating a strategic synergy ecosystem. The postal savings bank said.

In addition, China Life Insurance, China Telecom, UBS, Canada Pension Fund, JP Morgan chase, Temasek, DBS bank and other large domestic and foreign institutions have also become strategic investors of postal savings bank.

"At that time, the joining of these strategic investors was related to the listing expectations of postal savings bank, and the postal savings bank was also a large number of domestic banking giants that had not yet been listed." A broker who was close to the postal savings bank disclosed that "this listing is expected to form a significant investment opportunity for these capitals."

"Postal savings bank is born out of the postal system, and the color of the earlier administration is relatively heavier. Due to the lack of genes for several large countries that have been engaged in marketization business, the assets ability is relatively weak compared with their larger funds." A bank correspondent close to the postal savings bank said frankly, "in the past few years, the postal savings bank has also played more role in the interbank market, buying assets in the same industry, and many banks are willing to borrow money from the postal savings bank."

Some analysts pointed out that in the realization of A+H listing to expand capital capabilities, the postal savings bank is expected to further expand, and thus bring about the improvement of profitability.

"Since 2015, postal savings have strategic cooperation among multi party shareholders. At the same time, we will further increase capital and expand and expand, optimize the governance structure, and its profitability is expected to further improve." A financial analyst of a brokerage company in East China thinks.