The Failure Of China’s Agricultural Bank IPO Could Break The Market
All eyes are watching for the IPO success or failure of China’s largest bank by customer base, Agricultural Bank.
It’s hard enough that scores of IPOs around the world have been canceled due to weak global markets, but now Agricultural Bank’s IPO pricing could look expensive if Chinese stock markets swoon further.
Already, the apparent valuation discount for the IPO, based on forward price-to-book ratio, had fallen to 5.3% as of Sunday, from 10.5% on June 24th.
Read more: businessinsider.com