Investment Bank: Morgan Stanley IPO: China Merchants Bank (CMB) Group 5 Li Ying Yeung, Ocean (043118) Tsang Lai Sing (043119) Chan Tsz Yan, Jessica (043120)

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Presentation transcript:

Investment Bank: Morgan Stanley IPO: China Merchants Bank (CMB) Group 5 Li Ying Yeung, Ocean (043118) Tsang Lai Sing (043119) Chan Tsz Yan, Jessica (043120) Chan Ying Tung, Bonnie (043127) Chan Suet Yee, Cherrie (043129)

1) What is the ranking of the Morgan Stanley in securities industry?

Ranking of America's largest corporations in securities (Fortune500 in 2006) RankCompany500 rank Revenues (US$ million) 1 Morgan Stanley 3052, Merrill Lynch 3447, Goldman Sachs Group 4143, Lehman Brothers 6232, Bear Stearns 20211,552.4

Morgan Stanley is the highest ranking company in the securities, which earns the most revenue among others Major competitors of Morgan Stanley are Merrill Lynch and Goldman Sachs Group

Examples of works done by Morgan Stanley Mergers and Acquisitions Restructuring and Recapitalization Advisory Public and Private Debt and Equity Underwriting Mortgage Financing Investment and Asset Management

2) What is the strength of IPO of China Merchant Bank compared to other China banks listed in H.K.?

Country’s sixth-largest bank Highest retail deposits per branch at about 561 million yuan More efficiently run

Fewer non-performing loans Operated more like a for-profit business One of the best commercial banks on the mainland in terms of efficiency, management and service quality.

3) Who were the underwriters for IPO of China Merchants Bank?

The underwriters of CMB J.P Morgan Chase UBS China International Capital P.S. There is a conflict if investment banks promote two companies in the same industry around the same time and overlap of mandates.

4) What was the closing price on the first listing day of China Merchants Bank?

Price of the CMB on first listing day The value of the price per share was HK$8.55 Rose to HK$11.14 within 7 minutes Lastly, closed at HK$10.68 Totally, increased 24.5% Offering HK$206.9 million on first day

5) Was every retain applicant allotted the share in IPO of China Merchants Bank?

CMB decided NOT every retain applicant was allotted shares Unfair if those applicants who locked up huge amounts of capital just received one or two lots Institutional portion was reduced from 95% to 80% Retail portion was increased to 20% from 5%

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