Agbank ipo valuation
Chinese 4th largest bank agbank ipo valuation is based on issue price of
HK$3.20, At HK$3.20 bank is offering shares at 1.6 times book value.
where china’s other bank ICBC trades at 2.1 times 2010 price/book value and Bank of China at 1.5 times
so agbank ipo valuation is ok when compared to book value but one thing is age bank profitability is very low.
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