Microsoft Word - A share announcement_Eng Final.doc

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1 (a joint stock limited company incorporated in the People s Republic of China with limited liability) WARNING This announcement ( Announcement ) in relation to the A share offering of Industrial and Commercial Bank of China Limited (the Company ) is a translation of the official announcement published in Chinese and is being published as required by The Stock Exchange of Hong Kong Limited solely for the purpose of providing information to the public in Hong Kong. The issue of this Announcement in the People s Republic of China ( PRC, excluding, for these purposes, Hong Kong, Macau and Taiwan) is pursuant to PRC regulatory requirements in connection with our A share offering. The A shares are only being offered and sold in the PRC to, and can only be purchased by, investors that meet certain eligibility requirements under the PRC laws and regulations. By viewing this Announcement, you acknowledge, accept, and agree with the Company and its underwriters and advisors that: (a) the publication of this Announcement on this website does not constitute a prospectus, notice, circular, brochure or advertisement offering to sell any securities to the public, nor is it an invitation to the public to make offers to subscribe for or purchase any securities, nor is it calculated to invite offers by the public to subscribe for or purchase any securities; (b) the publication of this Announcement must not be regarded as an inducement to subscribe for or purchase any securities, and no such inducement is intended; (c) neither this Announcement nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever and prospective investors of our H shares should not rely on information contained in this Announcement in making decisions as to whether to invest in our Global Offering; (d) neither the Company nor any of its affiliates, underwriters or advisors makes any express or implied representation or warranty as to the accuracy or completeness of the information contained in this Announcement; (e) each of the Company and its affiliates, underwriters and advisors expressly disclaims any and all liability on the basis of the information contained in or omitted from, or any inaccuracies or errors in, this Announcement; (f) neither the Company nor any of its affiliates, underwriters or advisors is under any obligation, legal or otherwise, to update any information contained in this Announcement; (g) the Company has not and will not register the securities referred to in the Announcements under the United States Securities Act of 1933, as amended, or any state securities laws of the United States; and (h) as there may be legal restrictions on the distribution of this Announcement or dissemination of any information contained in this Announcement, you agree to inform yourself about and observe any such restrictions applicable to you. Prospective investors are reminded that the Global Offering is not conditional upon the A share offering. If an offer or an invitation is made to the public in Hong Kong in due course, please refer to a prospectus registered with the Registrar of Companies in Hong Kong for further details regarding the relationship between the Global Offering and the A share offering. This Announcement does not form part of any prospectus registered with the Registrar of Companies in Hong Kong save in so far as any information has already been incorporated into such prospectus. As part of the A share offering process, certain announcements will be published from time to time on the website of the Shanghai Stock Exchange, which may not be published on the Stock Exchange of Hong Kong Limited website

2 Industrial and Commercial Bank of China Limited Initial Public Offering of A Shares: Announcement of Pricing, Results of the Institutional Placement and Public Offering Success Rate Subscriptions in the institutional placement and the public offering under the initial public offering of A shares (the A Share Offering) by Industrial and Commercial Bank of China Limited (the Issuer) were closed on 19 October The subscription funds paid by the strategic investors and the institutional placement participants of A shares have been verified by Zhonghongxin Jianyuan Certified Public Accountants, and Haiwen & Partners has witnessed, and issued a legal opinion in respect of, the institutional placement process. The subscription funds paid by investors in the public offering have been verified by Ernst & Young Dahua Certified Public Accountants. Based on the overall level of applications for the institutional placement and public offering, the Issuer and the Joint Sponsors (Lead Underwriters) have determined the results of the A Share Offering to be as follows: I. Offering Price and Pricing Basis Based on the results of the book-building process for the institutional placement and the results of the H share international book-building process, and taking into account the fundamentals of the Issuer, valuations of comparable companies and market conditions, the Issuer and the Joint Sponsors (Lead Underwriters) have determined the offering price in the A Share Offering to be RMB 3.12 per share. The price-earnings ratio corresponding to such price will be: times (where earnings per share is calculated based on the forecast net profit for 2006, which has been reviewed by an accounting firm in accordance with the PRC accounting standards, divided by the total number of shares immediately following completion of the A Share Offering and H share offering, prior to any exercise of the over-allotment options) times (where earnings per share is calculated based on the lower of (i) net profit for 2005, which has been audited by an accounting firm in accordance with the PRC accounting standards, or (ii) such net profit adjusted for the impact of non-recurring profit or loss, divided by the total number of shares immediately following completion of the A Share Offering and H share offering, prior to any exercise of the over-allotment options). In addition, the Issuer will concurrently offer H shares outside the PRC, with the offering price in the H share offering being HK$3.07 per H share. After adjustment for the exchange rate difference between the Hong Kong dollar and the Renminbi, the offering price in the A Share Offering is equivalent to the offering price in the H share offering. II. Details of the Institutional Book-building Process In accordance with the requirements of the Procedures Governing the Offering and Underwriting of Securities and the relevant regulations, the Joint Sponsors (Lead Underwriters) have verified and confirmed the qualifications of institutional placement participants against the list of placement participants registered with the Securities Association of China. As at the stipulated deadline, the Joint Sponsors (Lead Underwriters) had received a total of 173 Industrial and - 2 -

3 Commercial Bank of China Limited Initial Public Offering of A Shares: Institutional Placement Subscription Quotation Forms applying for a total of billion shares, with all of them being valid subscriptions and total subscription funds amounting to RMB billion. Valid subscriptions corresponding to the offering price of RMB 3.12 per share amounted to a total of billion shares. III. Details of the Subscriptions in the Public Offering 1. Number of Subscriptions in the Public Offering According to data provided by the Shanghai Stock Exchange, the number of valid subscriptions in the A share public offering was 1,551,272, applying for a total number of billion shares. 2. Over-allotment The initial size of the A Share Offering was billion shares, which comprised a strategic placement of billion shares, an institutional placement of 3.00 billion shares and a public offering of billion shares. Based on the level of applications in the A Share Offering and the Issuer s financing demand, the Issuer and the Joint Sponsors (Lead Underwriters) have, after consultation, determined an additional allotment of 1.95 billion shares to investors in the public offering, representing 15% of the initial size of the A Share Offering; with the overall offering size after over-allotment being billion shares. IV. Implementation of the Clawback Mechanism In accordance with the provisions of the clawback mechanism disclosed in the Industrial and Commercial Bank of China Limited Initial Public Offering of A Shares: Announcement of Institutional Placement (the Announcement of Institutional Placement), because the preliminary success rate in the public offering is %, which is lower than 3% and also lower than the preliminary institutional placement ratio, the Issuer and the Joint Sponsors (Lead Underwriters) have decided to implement the clawback mechanism to re-allocate 650 million shares from the institutional placement to the public offering. After the implementation of the clawback mechanism, the structure of the A Share Offering is as follows: the A Share Offering includes the placement of billion shares to strategic investors, representing 38.59% of the overall size after over-allotment; the placement of 2.35 billion shares to institutional investors who have participated in the price consultation process, representing 15.72% of the overall size after over-allotment; and the public offering of billion shares, representing 45.69% of the overall size after over-allotment. The final public offering success rate after implementation of the clawback mechanism is %. The final institutional placement ratio after the implementation of the clawback mechanism is 5.608%. V. Results of the Strategic Placement, Institutional Placement and Public Offering 1. Results of the Strategic Placement The subscription payments by the 23 strategic investors of A shares, totaling RMB billion, had been duly transferred to the bank accounts designated by the Joint Sponsors (Lead Underwriters) by 17:00 on 16 October In accordance with the Announcement of Institutional Placement, the number of shares placed to the strategic investors of A shares shall be equal to their subscription amounts divided by the offering price in the A Share - 3 -

4 Offering, rounded to the nearest thousand shares. The lock-up period for shares placed to each strategic investor of A shares will be 12 months for the 50%, and 18 months for the remaining 50%. The lock-up period will commence from the date on which the shares in respect of the public offering are listed and traded on the Shanghai Stock Exchange. The numbers of shares placed to the strategic investors of A shares and the refund amounts are set out below: - 4 -

5 Number Name of Strategic Investor Amount Refund Received Number of Amount (in (in RMB Shares Allocated RMB) millions) 1 China Life Insurance (Group) Company 2, ,025,000 2, China Life Insurance Company Limited 2, ,025,000 2, China Pacific Insurance (Group) Co., Ltd. 2, ,025,000 2, China Huarong Asset Management Corporation 1, ,769, Ping An Life Insurance Company of China Limited 1, ,564, China Huaneng Group 1, ,512,000 2, China Guangdong Nuclear Power Holding Co., Ltd ,461,000 1, China National Cereals, Oils & Foodstuffs Corp ,410, Shanghai Baosteel Group Corporation ,256,000 1, Dongfeng Motor Corporation ,256,000 1, State Development & Investment Corp ,256,000 1, Beijing Capital International Airport Co., Ltd ,256,000 1, Taikang Life Insurance Company Ltd ,256,000 1, Taiping Life Insurance Co., Ltd ,256,000 1, Minerals Investment & Development Co., Ltd ,256,000 1, New China Life Insurance Company Ltd ,256,000 1, China Orient Asset Management Corporation ,256,000 1, China National Offshore Oil Corporation ,256,000 1, China Reinsurance (Group) Company ,256,000 1, China Yangtze Power Co., Ltd ,179,000 1, China National Machinery Industry 21 Corporation ,179,000 1, China National Nuclear Corporation ,153,000 2, Huatai Insurance Company of China Limited ,102,000 1, Total 18,000 5,769,220,000 33,

6 2. Results of the Institutional Placement The lock-up period for the shares placed to the institutional placement participants will be 3 months, and will commence from the date on which the shares in respect of the public offering are listed and traded on the Shanghai Stock Exchange. The names of all successful investors in the institutional placement, the numbers of shares allocated and the subscription payments to be refunded after implementation of the clawback mechanism under the A Share Offering are as follows: Number Name of Placement Participant Number of Shares Refund Amount Allocated (RMB) 1 万家公用事业行业股票型证券投资基金 269,184 14,136, 国联分红增利混合型开放式证券投资基金 1,963, ,072, 国联优质成长证券投资基金 280,400 14,725, 广发小盘成长股票型证券投资基金 280,400 14,725, 光大保德信新增长股票型证券投资基金 3,382, ,582, 广发证券股份有限公司 25,237,000 1,325,260, 光大阳光集合资产管理计划 560,800 29,450, 中信理财 2 号集合资产管理计划 2,244, ,798, 江苏交通控股系统企业年金计划 717,824 37,696, 汇丰晋信龙腾股票型开放式证券投资基金 19,629,000 1,030,757, 汇丰晋信 2016 生命周期开放式证券投资基金 13,460, ,804, 中国太平洋保险 ( 集团 ) 股份有限公司 - 集团本级 - 自有资金 3,365, ,698, 中国太平洋财产保险股份有限公司 - 传统 - 普通保险产品 39,257,000 2,061,518, 华夏回报二号证券投资基金 25,797,800 1,354,710, 华夏红利混合型开放式证券投资基金 729,040 38,285, 华夏大盘精选证券投资基金 3,057, ,501, 华夏回报证券投资基金 3,646, ,423, 华夏成长证券投资基金 6,730, ,400, 全国社保基金一零七组合 1,794,664 94,240, 华夏平稳增长混合型证券投资基金 5,945, ,170, 兴安证券投资基金 1,458,080 76,570, 兴和证券投资基金 15,983, ,330, 兴华证券投资基金 12,338, ,903, 景福证券投资基金 10,095, ,102, 中信证券避险共赢集合资产管理计划 28,041,000 1,472,512, 中信信托投资有限责任公司 17,946, ,406, 全国社保基金一零五组合 224,320 11,780, 全国社保基金六零三组合 7,291, ,850, 同盛证券投资基金 12,619, ,628,

7 30 长盛中信全债指数增强型债券投资基金 560,800 29,450, 长江证券有限责任公司 14,581, ,704, 泰康资产管理公司 - 泰康人寿保险股份有限公司 - 传统 - 普通保险 26,975,480 1,416,556, 泰康资产管理公司 - 泰康人寿保险股份有限公司 - 分红 - 团体分红 6,730, ,400, 泰康资产管理公司 - 泰康人寿保险股份有限公司 - 分红 - 个人分红 20,189,800 1,060,207, 交银施罗德稳健配置混合型证券投资基金 24,266,816 1,274,311, 交银施罗德精选股票证券投资基金 1,435,648 75,392, 三峡财务有限责任公司 3,595, ,773, 淮北矿业 ( 集团 ) 有限责任公司企业年金 - 海富通基金 897,280 47,120, 中国人民健康保险股份有限公司 - 传统 - 普通保险产品 2,154, ,086, 中国人民财产保险股份有限公司 - 传统 - 普通保险产品 71,895,560 3,775,525, 东海证券有限责任公司东风 1 号集合资产管理计划 4,823, ,949, 华宝信托投资有限责任公司 10,992, ,222, 红塔证券股份有限公司 4,493, ,893, 中粮财务有限责任公司 14,379, ,102, 大成债券投资基金 6,730, ,400, 银华优质增长股票型证券投资基金 22,993,800 1,207,459, 鸿阳证券投资基金 15,703, ,605, 全国社保基金六零四组合 5,609, ,499, 招商安本增利债券型证券投资基金 3,646, ,423, 山西证券有限责任公司 3,595, ,773, 五矿集团财务有限责任公司 22,433,000 1,178,009, 淮北矿业 ( 集团 ) 有限责任公司企业年金 - 易方达基金 897,280 47,120, 易方达策略成长二号混合型证券投资基金 17,946, ,406, 全国社保基金六零一组合 2,692, ,358, 全国社保基金五零二组合 5,934, ,581, 科瑞证券投资基金 18,507, ,856, 科讯证券投资基金 5,048, ,049, 中国电力财务有限公司 168,241,000 8,835,088, 建信恒久价值股票型证券投资基金 1,794,664 94,240, 马钢企业年金基金 594,448 31,217,

8 61 淮北矿业 ( 集团 ) 有限责任公司企业年金 - 南方基金 297,224 15,608, 全国社保基金一零一组合 2,300, ,743, 华西证券有限责任公司 1,682,400 88,350, 广州证券有限责任公司 6,113, ,005, 宏源证券股份有限公司 8,973, ,201, 东北证券有限责任公司 3,433, ,232, 航天科工财务有限责任公司 1,794,664 94,400, 中国财产再保险股份有限公司 - 传统 - 普通保险产品 1,794,664 94,240, 受托管理中国人寿再保险股份有限公司自营产品 1,794,664 94,240, 中海石油财务有限责任公司 168,241,000 8,835,088, 浙商证券有限责任公司 3,993, ,683, 上海证券有限责任公司 1,851,640 97,182, 广发证券股份有限公司集合资产管理计划 2 号 2,300, ,743, 上海汽车集团财务有限责任公司 56,081,000 2,945,027, 广发证券股份有限公司集合资产管理计划 3 号 1,037,480 54,483, 西部信托投资有限公司 112,160 5,890, 长城证券有限责任公司 2,692, ,358, 德邦证券有限责任公司 5,609, ,499, 国泰君安君得利一号货币增强集合资产管理计划 1,682,400 88,350, 富通银行 -QFII 11,217, ,002, 国元黄山 1 号限定性集合资产管理计划 11,688, ,741, 东吴证券有限责任公司 1,794,664 94,240, 嘉实沪深 300 证券投资基金 179,456 9,424, 嘉实服务增值行业证券投资基金 2,698, ,652, 全国社保基金五零四组合 538,368 28,272, 全国社保基金一零六组合 1,256,192 65,968, 泰和证券投资基金 4,493, ,893, 嘉实成长收益型证券投资基金 2,070, ,668, 丰和价值证券投资基金 6,831, ,701, 东海证券有限责任公司 2,333, ,510, 华泰证券有限责任公司 8,413, ,751, 中原信托投资有限公司 2,333, ,697, 巨田基础行业证券投资基金 437,424 22,971, 巨田资源优选混合型证券投资基金 504,720 26,505, 荷兰银行有限责任公司 -QFII 706,608 37,107, 东方证券 - 东方红 2 号集合资产管理计划 5,390, ,014, 山西信托投资有限责任公司 1,963, ,072, 鸿飞证券投资基金 2,704, ,947,

9 99 兴业全球视野股票型证券投资基金 25,237,000 1,325,260, 万向财务有限公司 1,682,400 88,350, 宝康灵活配置证券投资基金 2,805, ,248, 宝康债券投资基金 10,656, ,552, 华宝兴业收益增长混合型证券投资基金 8,413, ,751, 华宝兴业动力组合股票型证券投资基金 499,112 26,210, 野村证券株式会社 -QFII 112,160 14,490, 花旗环球金融有限公司 -QFII 112,160 5,890, AIG Global Investment Corp-QFII 701,000 36,812, 国泰金马稳健回报证券投资基金 504,720 26,505, 国泰金鹰增长证券投资基金 672,960 35,340, 国泰金鹏蓝筹价值混合型证券投资基金 8,973, ,201, 基金金鑫 14,021, ,254, 国泰金鹿保本增值混合证券投资基金 16,825, ,506, 国泰金象保本增值混合证券投资基金 2,244, ,798, 国泰金龙行业精选证券投资基金 168,240 8,835, 基金金盛 1,121,600 58,900, 全国社保基金一一一组合 3,365, ,698, 华泰紫金 1 号集合资产管理计划 2,805, ,248, 华泰紫金 2 号集合资产管理计划 28,041,000 1,472,512, 国元证券有限责任公司 26,964,264 1,415,967, 华泰资产管理有限公司 - 增值投资产品 14,385, ,397, 上投摩根成长先锋股票型证券投资基金 26,919,400 1,413,611, 上投摩根中国优势证券投资基金 10,605, ,902, 上投摩根阿尔法股票型证券投资基金 7,291, ,850, 富兰克林国海弹性市值股票型证券投资基金 1,615,104 84,816, 全国社保基金五零三组合 5,609, ,499, 鹏华价值优势股票型证券投资基金 4,487, ,599, 联合证券有限责任公司 2,440, ,105, 中国石化财务有限责任公司 12,579, ,567, 中国对外经济贸易信托投资有限公司 10,992, ,222, 航天科技财务有限责任公司 35,948,280 1,887,761, 海通稳健增值型集合资产管理计划 3,595, ,929, 长江超越理财 1 号集合资产管理计划 1,682,400 88,350, 第一创业证券有限责任公司 1,682,400 88,350, 大成财富管理 2020 生命周期证券投资基金 2,805, ,248, 中油财务有限责任公司 143,565,800 7,539,274, 中船重工财务有限责任公司 56,081,000 2,945,027, 国信证券有限责任公司 7,291, ,850,

10 138 中核财务有限责任公司 21,569,368 1,132,655, 厦门国际信托投资有限公司 1,626,320 85,405, 中国华电集团财务有限公司 7,235, ,905, 同德证券投资基金 2,468, ,578, 上海国际信托投资有限公司 3,926, ,149, 安顺证券投资基金 13,460, ,804, 中远财务有限责任公司 8,413, ,751, 方正证券有限责任公司 560,800 29,450, 国都证券有限责任公司 2,805, ,248, 中海信托投资有限责任公司 863,632 45,353, 国金证券有限责任公司 5,384, ,719, 博时主题行业证券投资基金 336,480 17,670, 博时基金裕隆 5,609, ,499, 博时基金裕阳 2,805, ,248, 博时价值增长证券投资基金 3,365, ,698, 博时价值增长二号证券投资基金 5,609, ,499, 全国社保基金一零二组合 3,365, ,698, 全国社保基金一零三组合 1,963, ,072, 全国社保基金一零八组合 3,646, ,423, 全国社保基金五零一组合 6,338, ,785, 上海浦东发展集团财务有限责任公司 36,453,000 1,914,266, 甘肃省信托投资有限责任公司 185,064 9,718, 南京证券有限责任公司 11,217, ,002, 中国人寿资产管理公司 - 中国人寿保险股份有限公司万能险产品 358,912 18,880, 中国人寿资产管理公司 - 中国人寿股份有限公司 - 分红 - 个人分红 168,241,000 8,835,088, 中国人寿资产管理公司 - 中国人寿股份有限公司 - 分红 - 团体分红 168,241,000 8,835,088, 中国人寿资产管理公司 - 中国人寿保险 ( 集团 ) 公司传统普保产品 168,241,000 8,835,088, 泰信先行策略开放式证券投资基金 280,400 14,725, 渤海证券有限责任公司 6,853, ,879, 兵器财务有限责任公司 4,627, ,961, 云南国际信托投资有限公司 2,805, ,248, 中诚信托投资有限责任公司 20,038,384 1,052,256, 海通证券股份有限公司 25,237,000 1,325,260, 中金股票精选集合资产管理计划 10,768, ,442, 中金短期债券集合资产管理计划 3,410, ,054,

11 173 全国社保基金一一二组合 2,154, ,086, Total 2,350,000, ,413,679, Note: The figures under the Number of Shares Allocated in the table above are based on the institutional placement ratio of the A Share Offering, and, furthermore, are the final number of shares allocated after application of the principles relating to the treatment of odd-lot shares as stipulated in the Announcement of Institutional Placement. According to the Announcement of Institutional Placement, the publication of this announcement will be deemed to be the service of notice of successful placement to the institutional placement participants. 3. Results of the Public Offering The total number of shares allocated in the A share public offering is billion shares, with the final success rate being %. A total of 208,425,212 subscription numbers were assigned in the public offering of A shares, with the range being between 10,000,000 and 99,999,999 for Group 1, between 10,000,000 and 99,999,999 for Group 2, and between 10,000,000 and 38,425,211 for Group 3. Shares in the public offering are not subject to any lock-up period. Issuer: Industrial and Commercial Bank of China Limited Joint Sponsors (Lead Underwriters): (not in any particular order) China International Capital Corporation Limited CITIC Securities Co., Ltd. Guotai Junan Securities Co., Ltd. Shenyin & Wanguo Securities Co., Ltd. 23 October

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