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Undervalued CICC Banks On Hong Kong IPO Activity Pickup

Benzinga LogoBenzinga16h ago

Undervalued CICC Banks On Hong Kong IPO Activity Pickup - Benzinga

Quick Summary:

China's largest underwriter of Hong Kong listings helped its clients to raise $3.84 billion last year, as it reportedly gets set to sponsor another blockbuster IPO by battery giant CATL Key Takeaways: CICC said its net profit rose between 50% and 70% in the first quarter, as it capitalized on rebounds in the Hong Kong IPO and stock markets

The leading investment bank's valuation is significantly lower than its U.S.peers due to its weaker return on equity Stock markets in Hong Kong, Shanghai and Shenzhen have been on a roll the last two quarters, buoyed by Beijing's nearly nonstop efforts to support a flagging Chinese economy.

It was the first Mainland investment bank in Hong Kong with its entry to the market in 1997, and helped to underwrite the landmark IPO by leading wireless carrier China Mobile that year.


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Article Details

Author / Journalist: The Bamboo Works

Category: InvestingBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-23 @ 12:26:54 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 1172 words

Reading Time: 7 minutes read

Sentences: 47 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 28172261

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Main Topics: InvestingBusiness

Official Website: benzinga.com

Update Frequency: 2 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 15 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #54

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