Ningbo Port step China North car to take the initiative to reduce the size of the issue

Tuesday will start the purchase of Ningbo Port today announcement, the size of the final issue of 2 billion shares, and according to its preliminary inquiry notice disclosed the size of the issue is not more than 2.5 billion shares, the adjustment of the scale of the distribution of the planned distribution of the scale of 20%.　　This is also the May 2009 issue of the reform since the second only after China's north vehicles to adjust the size of the issue of new shares. Reluctant or for the market to reduce the pressure on this matter, the relevant leaders of Ningbo Port said that the company in the collection of funds on the one hand to the market, as far as possible to give the recognition of the value of the company investors more security margin;　　The scale of this issue is also fully considered in the context of including fund-raising needs, the actual situation of the capital market, the future development of the company and other factors in the final determination. Since 2010, investors have been increasingly cautious in their IPO offerings.　　The final price range of Ningbo port is 3.18 yuan/share to 3.70 yuan/share, the corresponding P/e ratio is 25.18 times times to 29.3 times times, compared to the Tangshan Port 32.67 Times times the issuance of P/E ratio has a significant discount. As one of the largest terminal operators in China, the estimated scale of reduction reflects the "reluctant" mentality of the issuer and the main underwriter.　　Ningbo Port is also the largest since the beginning of the 2010 IPO in China, a non-financial Enterprise IPO project, market commentators believe that the Ningbo port to reduce the size of the issue, not only for the market decompression, but also want to be listed after the better performance. Brokers are not optimistic, however, for the Ningbo port listed prices, brokers generally pessimistic. Everbright Securities to Ningbo Port 2010 24 times times PE, the proposed inquiry interval of 3.05-3.43 yuan.　　The 3.65-4.19 yuan, which is given by founder Securities, is the highest valuation given in the research report that is currently visible. As of the end of Friday, the Shanghai and Shenzhen Cities 10 coastal Port shares of most of the price-earnings ratio of more than 30 times times, of which the industry leader on the Hong Kong group 18.27 Times Times, Yantian port, Tianjin port is 20.65 times times, 16.8 times times respectively. Data show that in 2008, Ningbo port throughput capacity of more than the previous ranks of Shanghai port, the annual throughput reached 520 million tons, became the first port in China. However, as another indicator of port competitiveness-"container throughput", the port of Ningbo was left far behind by Shanghai port.　　2009, Ningbo port container throughput only about 40% of the Shanghai port. Express journalist Liu Fang Tao Jun