It looks like some poor bastards are going to have to be reminded that holding a few billion worthless dollars is the best way to avoid having their country bombed six ways from Sunday
It looks like China is benefitting from the rise in metal prices.
Shares in WESTERN Mining Co (China's second largest mining company) made a trading debut/went on public sale on 9th July 2007. The capitalisation prior to public sale was set at 6.2 billion yuan (US$814 million). Investors ordered almost 244 times the stock offered, making the total cash offered equivalent to $198 Billion USD.
The shares (which opened on 9/7/07 at 13.48 yuan) are currently trading at 33.88 yuan.
I'm no financial expert, but I'm sure the dollar won't benefit from all this.
Whilst browsing, I noticed that there is an upcoming sale of Chinese shares of the world's largest coal company by market value China Shenhua Energy. The Shenhua Chinese stock (known as A shares), would be worth a staggering 50.9 billion yuan ($6.7 Billion USD) capitalisation (prior to trading) at todays Hong Kong stock exchange prices (where the shares are currently traded).
Also interesting is the announcement that China is banning the overease stock exchange listing of (Chinese) private companies, in an effort to promote the Shanghai and Shenzhen exchanges. Hong Kong, US & London have been previously used by (China's) State-owned companies to raise funds. Also, from 1st July 2007, the Chinese regulations changed allowing various world bourses (NYSE Euronext, Nasdaq, London Stock Exchange & Deutsche Borse) to set up representative offices in the Chinese mainland.
All very interesting stuff, but I'm sure another blow for the dollar........?
Astounding rise as Mr & Mrs China tuck away their savings.
Thrift and hard work being the habiot of the coastal Chinese - very long term the realtive poverty of the 800 MN rural Chinese poses problems as resources - fuel, electricty become scarce.
It looks like some poor bastards are going to have to be reminded that holding a few billion worthless dollars is the best way to avoid having their country bombed six ways from Sunday
ReplyDeleteThe only question is whose turn?
It looks like China is benefitting from the rise in metal prices.
ReplyDeleteShares in WESTERN Mining Co (China's second largest mining company) made a trading debut/went on public sale on 9th July 2007. The capitalisation prior to public sale was set at 6.2 billion yuan (US$814 million).
Investors ordered almost 244 times the stock offered, making the total cash offered equivalent to $198 Billion USD.
The shares (which opened on 9/7/07 at 13.48 yuan) are currently trading at 33.88 yuan.
I'm no financial expert, but I'm sure the dollar won't benefit from all this.
Whilst browsing, I noticed that there is an upcoming sale of Chinese shares of the world's largest coal company by market value China Shenhua Energy. The Shenhua Chinese stock (known as A shares), would be worth a staggering 50.9 billion yuan ($6.7 Billion USD) capitalisation (prior to trading) at todays Hong Kong stock exchange prices (where the shares are currently traded).
Also interesting is the announcement that China is banning the overease stock exchange listing of (Chinese) private companies, in an effort to promote the Shanghai and Shenzhen exchanges. Hong Kong, US & London have been previously used by (China's) State-owned companies to raise funds. Also, from 1st July 2007, the Chinese regulations changed allowing various world bourses (NYSE Euronext, Nasdaq, London Stock Exchange & Deutsche Borse) to set up representative offices in the Chinese mainland.
All very interesting stuff, but I'm sure another blow for the dollar........?
Check the price of Western mining now : 68.45 Yuan
ReplyDeleteSorry, my mistake, 61.45, but still a helluva raise!
ReplyDeleteAstounding rise as Mr & Mrs China tuck away their savings.
ReplyDeleteThrift and hard work being the habiot of the coastal Chinese - very long term the realtive poverty of the 800 MN rural Chinese poses problems as resources - fuel, electricty become scarce.