Agricultural Bank in the gap between the fund insurance for the network under the main purchase

-Our correspondent Hu Ying Likingjing with the clock pointing to the July 6 three o'clock in the afternoon, the global attention of the Agricultural Bank issued a successful draw on the work of the period. July 8 ABC announced that the issue price for the interval limit of 2.68 yuan/share, the purchase of frozen funds of about 480.3 billion yuan.　　Although the recent market environment is bad, but the ABC a-shares under the issue of the heat, the subscription multiples up to 11.28 times times. Earlier market rumors that the issue of agricultural Bank as a political task, the various functional departments for their escort and other statements, the Chinese Securities Regulatory Commission for this issue did not follow the practice of the Agricultural Bank, in the market before the purchase of online funds to control the purchase of new shares, for the market funds to leave a larger space Agricultural Bank T-day (July 6) before and after, respectively, there are 8 SME distribution.　　In the "Eight law" under the heavy siege of ABC, although the purchase funds by a larger diversion, the agricultural bank after all to kill a road, for this purchase has been handed over a good answer. The high rate due to market funds limited July 8, Agricultural Bank of China announced the initial public offering a-share pricing and online check rate. It is understood that the online release of frozen funds about 300 billion yuan.　　NET final placing ratio is 9.2926027%, online final check rate is 9.29260176%. Analysts pointed out that AgBank's initial public offerings, although high, but there is an objective reason, these reasons can not change AgBank's long-term investment value. One is that the current market liquidity is scarce, the first-tier market funds are limited, affecting the purchase of ABC. Second, ABC's issue just in the A-share market volatility more intense period. The relative downturn in the market has affected investors ' confidence to some extent. Third, before the launch of ABC, there was a "break" in the IPO. such as the July 5 listing of the Tangshan port in the initial public offering of investors more enthusiastic, online public offering rate is only 1.13%, but the first day of the listing is below the IPO price, closed at 7.88 yuan, below the issue price of 8.20 yuan 3.9%. AgBank's public offering followed the listing date of the port of Tangshan, the investor purchase of Agricultural Bank of the confidence caused a certain impact; four is the large scale of agricultural bank, in accordance with the final price of a shares of 2.68 yuan/shares and H-shares final pricing of 3.20 yuan/share calculation, if the agricultural Bank of excess placement options in full exercise, raise capital scale will reach 1, 72.2 billion yuan, more than ICBC's IPO financing scale.　　The large scale of financing is also the important reason of high rate of checking. Under the net Purchase enthusiasm fund insurance for the main announcement, ABC net under the initial placement ratio of 8.86%, subscription multiples of 11.28 times times.　　After the start of the callback mechanism, the online part of the stock to the net next dial, the net under the final placement of the number of shares for 5.032 billion shares, placing the proportion of 9.2926027%, the subscription multiples remain at 10.76 times times the higher level, significantly better than the early release of the Tangshan port. According to the investors ' institutions subscribed to by the net, among the institutional investors to be matched: insurance institutions accounted for 52.24%, the fund company accounted for 26.8%, the securities company accounted for 1.87%, the finance company accounted for 15.55%, the trust companies accounted for 2.43%, the QFII accounted for 1.11%. Insurance and funds are clearly in absolute advantage.　　The fund manager who has been involved in the purchase said that AgBank's stock may not be a short-term, but it is definitely a safe and high value investment variety. Caught in the gap between the Agricultural Bank's value by the market recognition of the Agricultural Bank of China's capital purchase two days after a total of 8 new shares listed. As a result of the small version of the stock market on the first day generally higher, the online purchase of Agricultural Bank funds were a large diversion. Although the small and medium-sized board stocks a single size, but 8 new shares issued at the same time the total financing as high as 7.1 billion yuan, the market funds still have a great impact. It is understood that the total frozen capital of 8 new shares has far exceeded ABC. ABC in the A-share trend is not clear, market-intensive distribution and many other factors surrounding the bad distribution environment, can still obtain a more satisfactory subscription multiples, fully explained that AgBank's own value has been widely recognized by investors.