ABC Baojia one months

⊙ reporter Miaoyan Tomorrow, the Agricultural Bank on-line funds purchase 10.31 billion shares, will start the listing transaction.　　This also marks the last large state-owned bank officially landed in the A-share market. ABC last night disclosed the listing of the announcement, if not to consider the exercise of a shares issued over the choice of options, the total issued 22.235 billion shares, the issue price of 2.68 yuan/share, the total amount of funds collected about 59.591 billion yuan.　　Deduct the issue fee, the net amount of the raise fund of this issue is about 58.736 billion yuan, higher than work, build, three line.　　The announcement shows that after the completion of the issue, ABC's net assets per share of about 1.52 yuan, after the issuance of earnings per share of about a thin to 0.28 yuan. Industry insiders predict that the next year, ABC's profit growth is expected to be above 30%, earnings per share will be projected to rise to 0.37 yuan, each dividend can reach 0.17 yuan, dividends per share up to 6.18% (no tax deduction).　　As AgBank has a higher growth performance in the next few years than its peers, the dividend return of 6.18% in 2011 is expected to overtake BOC and ICBC. Earlier, ABC's prospectus disclosed that the bank forecast net profit of not less than 82.9 billion yuan in 2010. Reporters from the source learned that the first half of the net profit is expected to exceed 46 billion yuan, and the second half of the profit will reach 41.5 billion to 46 billion yuan.　　According to projections, the second half of this year, AgBank's earnings per share of about 0.13-0.14 yuan. As AgBank's prospectus discloses a dividend rate of 35% and 50% in the next three years, according to the historical average of the workers, China and CCB, assuming that the dividend rate is 45%, then the price of the 2.68 yuan/share is based on the IPO, ABC stock in the second half of the year's semi-annual dividend can reach 0.06-0.07 yuan, the annual rate of return up to 4.3　　%-4.7%. As a result of the preset "green shoe" mechanism, which means that once listed below the IPO price, CICC can buy AgBank stock for the market. With AgBank eventually opting to sell more shares to online investors at a 15% per cent ceiling, CICC will eventually get about 8.9 billion yuan to stabilise its share price within one months of the IPO. The initial circulation value of ABC is about 27.6 billion yuan after the IPO.　　If ABC break, CICC holding the funds can "eat" nearly one-third of AgBank's circulating shares, for Agricultural Bank "Bao-fat" to provide strong protection. As an important large-cap blue-chip market, ABC will be counted into a number of important indices after 11 trading days, and trigger the adjustment of related weighting index component stocks. According to analysis, Agricultural Bank into the Shanghai Composite Index, will be to some extent to enhance the influence of the bank plate on the Shanghai Composite Index, and the issue of reasonable price of ABC and has entered the bottom of the valuation of the bank plate, will bring a large market can not be ignored the stability of the force.