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15-10-2019, 06:31 PM
Own a part of china's unlisted rural / city banks - buy on Taobao !
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Investors are shunning China's small banks despite half-price deals
Tue, Oct 15, 2019 - 5:50 AM Shanghai
TO SEE how little investors love China's small banks, look no further than the nation's largest online auction site.
On Alibaba Group Holding's Taobao platform, a Chinese court tried to auction off 1.5 million shares of a rural bank in the eastern Zhejiang province for a starting price of 1.15 million yuan (S$220,000) - about half their appraised value.
After three failed attempts over two months, the latest re-listing drew only about a thousand views.
And not a single bid.
That's not an isolated case. Since May 24, when the Chinese government stunned the market with its first bank seizure in more than two decades, there have been more than 1,400 attempted sales on Taobao of mostly unlisted rural and city bank shares. Even with deep discounts, over half the auctions failed to attract bidders in their first attempt, transaction records show.......
https://www.businesstimes.com.sg/banking...rice-deals
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Investors are shunning China's small banks despite half-price deals
Tue, Oct 15, 2019 - 5:50 AM Shanghai
TO SEE how little investors love China's small banks, look no further than the nation's largest online auction site.
On Alibaba Group Holding's Taobao platform, a Chinese court tried to auction off 1.5 million shares of a rural bank in the eastern Zhejiang province for a starting price of 1.15 million yuan (S$220,000) - about half their appraised value.
After three failed attempts over two months, the latest re-listing drew only about a thousand views.
And not a single bid.
That's not an isolated case. Since May 24, when the Chinese government stunned the market with its first bank seizure in more than two decades, there have been more than 1,400 attempted sales on Taobao of mostly unlisted rural and city bank shares. Even with deep discounts, over half the auctions failed to attract bidders in their first attempt, transaction records show.......
https://www.businesstimes.com.sg/banking...rice-deals