联合利华项目建议书学习课件.pptVIP

Unilever (China) LimitedA share market workshop Presentation to AAR and CITICS Team Table of contents 1. Introduction to ABN AMRO Rothschild (AAR) and CITIC Securities (CITICS) Introduction to ABN AMRO Rothschild Strong rankings in the Q1 2002 bookrunner league tables No. 1 ranked in key European markets AAR has pioneered and completed 30 transactions with total size of US$2,133m in China ABN AMRO’s research strength in HK / China and Consumer sector Introduction to CITIC Securities Co., Ltd (CITICS) CITIC – China’s largest financing and investment group CITICS – a major bracket firm in the investment banking industry in China Corporate Finance Committee Investment banking (Beijing, Shanghai, Shenzhen and Qindao) Fixed income Sales (equivalent to Equity Capital Markets) MA Restructuring advisory Leading positions in equity offering and sponsorship in recent years No.1 bond house in domestic corporate bond market 2. Update on China domestic and international equity market China total issuance is reaching US$50 billion ... A share new issue already exceeds international offering Implication of liberalization of A share market China market has underperformed in last 6 months A share markets have recovered since the beginning of the year after significant decline in 2H2001 New issue performance - China IPOs since 2001 Current valuation for China stocks in HK market A share market valuation is still attractive to potential issuer Liberalization in China’s capital market Potential MNC (with China operation) candidates for A share listing Alcatel China Ericsson China Kodak China Motorola China Procter Gamble China Unilever China Household names and MNCs are likely candidates to go to the A share market. However, most of above mentioned companies have not started the process yet With a view to improving the overall quality of A share companies, CSRC has already started talking to some JVs and solely foreign owned companies in order to obtain their views/ feedbac