Original title: Lead underwriters support China Mobile’s A-share market with a turnover of 15.259 billion yuan on the first day of listing
Our reporter Zhou Shangding
On January 5, China Mobile was listed for trading on the A-share Shanghai Stock Exchange at a price of 57.58 yuan per share, 846 million shares were issued, and a total of 48.7 billion yuan was raised. This issuance sets up an over-allotment option (green shoe mechanism). If the green shoe is fully exercised, the issuance scale will be expanded to approximately 973 million shares, corresponding to a total of 56 billion yuan raised, making it the largest A-share IPO in the past decade.
As of the close of the day, China Mobile’s share price was 57.88 yuan per share, up 0.3 yuan per share, an increase of 0.52%. The turnover on the first day reached 15.259 billion yuan, with a total market value of 1.23 trillion yuan. If calculated based on the closing price, the investor can make a profit of 300 yuan per one lot; if calculated at the highest intraday price of 63.58 yuan per share, they can make a profit of 6,000 yuan per sign; if calculated based on the average transaction price of 59.76 yuan per share on the day , Each sign can make a profit of 2,180 yuan. Some netizens joked, “If you look at the closing price, China Mobile gave the winner a meal of Haidilao.” “The 300 yuan bill has been paid.” Many investors also said, “At least it’s not broken, it’s pretty good. .”
In terms of underwriting by brokerage firms, during this China Mobile’s A-share issuance process, 12,910,300 new shares were abandoned by online investors, and the amount of abandonment reached 743 million yuan. Offline investors also abandoned the purchase of 220,600 shares of China Mobile, with an amount of 12.7049 million yuan.
According to relevant rules, the unpaid subscription shares of China Mobile’s online and offline investors are all underwritten by the joint lead underwriters. Specifically, the number of shares underwritten by the joint lead underwriters was 13.131 million shares, and the underwriting amount was 756 million yuan, a new high in the amount of A-share abandonment, accounting for 1.35% of the issuance scale after the full exercise of the green shoe. However, although it seems that the amount of abandonment is huge, the underwriting ratio of China Mobile’s brokerage is 1.3502%, which is far from the high underwriting ratio of 6.5139% of the “most expensive new stock” Hemai.
It is worth mentioning that the six major joint lead underwriters “backed” China Mobile. The joint lead underwriters of this issuance voluntarily promised that they would not sell the shares within 30 natural days from the date of listing and trading on the Shanghai Stock Exchange. Among its underwritten shares, there is no lock-up period (shares with a lock-up period in the underwritten shares are locked for 6 months from the date of this issuance of shares on the Shanghai Stock Exchange).
In fact, China Mobile’s joint lead underwriter team is quite “luxury”, including joint sponsors (joint lead underwriters): CICC, CITIC Securities; and joint lead underwriters: CITIC Construction Investment, Huatai United Securities, Bank of China Securities , China Merchants Securities. Because the lead underwriter promised not to sell the underwritten shares, based on the closing price, China Mobile’s joint lead underwriter had a floating profit of RMB 3,939,300 on the first day.
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