中金公司在港上市首日大涨 CICC jumps 10% in Hong Kong trading debut

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.

中国国际金融股份有限公司（CICC，简称：中金）克服了市场弱势，在香港市场上市首日开盘大涨。此前，这家中国投行把首次公开发行(IPO)的融资规模缩减了近五分之一，减至8.11亿美元。

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.

中金上市定价定在区间最高端。该公司是摩根士丹利(Morgan Stanley)和中国建设银行(CCB)在20年前组建的一家合资投行。周一，中金股价在早盘中段大涨9.5%，至每股11.26港元，之前一度涨至每股11.38港元的高点。

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恰逢中国内地券商股反弹。上周五，中国政府决定重启暂停了4个月的IPO。重启IPO应该会提振券商的收入。中国内地最大券商中信证券(Citic Securities)的H股上涨了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.

中金最闻名的一点，是赢得了一些国有集团上市的承销权，特别是2005年左右中国大型国企的重磅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%中金股份出售给以KKR和TPG为首的多家投资机构。KKR和TPG在中金IPO中均未减持。

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，中金在其首席执行官、中国前总理之子朱云来(Levin Zhu)辞职后推迟了上市计划。

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.

中金原计划融资至少10亿美元，后来缩减了融资规模。此次IPO融得的资金几乎全为新增股本。唯有中国主权财富基金、中金的最大股东中投公司(CIC)此次进行了减持。

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%，新加坡主权财富基金——新加坡政府投资公司(GIC)持股12.3%。TPG和KKR分别持股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，融得的资金将用于销售和交易拓展、包括保证金融资在内的财富管理业务、以及扩大国际业务版图。