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1、April 19, 2002Strictly private & confidentialUnilever(China)LimitedAsharemarketworkshopPresentation to385038501AARandCITICSTeamProjectLeader* Attendees of today,s workshopTonyMokHead of ABN AMRO Consumer Industries Group, AsiaInvestmentBanking&CoverageHassanElNahas*ABN AMRO Consumer Industries Group
2、, AsiaPanMuping*Chief Rep of N M RothschildJasonRynbeckDirector of ABN AMRO Corporate Finance Consumer Group, AsiaECMProjectLeaderPuJianBoard Director, Vice President of CITICSInvestmentBankingRichardHeald*Joint CEO of AAR GlobalKolaLuu*Head of AAR Greater ChinaXiaomeiLiu*AAR China TeamWangChangqing
3、General Manager of Investment Banking, ShanghaiJoeChen*Special assistant to the president of CITICSMaoYanmin*Senior Manager of Investment Banking, ShanghaiLiuKebin*Senior Manager of Investment Banking, ShanghaiLiuZhenManager of Investment Banking, ShanghaiChangLiang*Manager of Investment Banking, Sh
4、anghai38502Tableofcontents1. IntroductiontoAARandCITICSecurities2. UpdateondomesticandinternationalequitymarketsforChinaissues3. ValuationapproachandpricingmechanismforAshareIPOsandsectorvaluationinAsia4. UpdateonforeigncompanylistinginAsharemarket-DirectlistingbyMNCsandChina5. Asharelistingprocedur
5、e6. RoleofadvisorsAppendices:I. AARcredentialsII. CiticSecuritiesCredentialsIII. RecentAshareofferingcasestudiesIV. ValuationofcomparablecompaniesV. ComparisonofAsharemarketandHongKongmarket1.IntroductiontoABNAMRORothschild(AAR)andCITICSecurities(CITICS)38504IntroductiontoABNAMRORothschildDrawing on
6、 the full financial resources of its parent groups, ABN AMRO Rothschild offers world class equity capital markets expertise4Amongst the worlds largest privately-owned banks436 offices in 27 countries4Established and highly regarded skills in handling merger and acquisition, corporate advisory, priva
7、tisation and project finance assignments4Strong specialist industry sector teams based world-wide4World-wide retail and wholesale banking operations employing over 109,000 personnel4Group capital of EUR 34.0 billion. Total assets of EUR 597.4 billion4Membership of 47 stock exchanges world-wide inclu
8、ding London, New York and NASDAQ4Over 880 equity research, sales and trading personnel4Dedicated equities distribution personnel located in the US to sell international offerings into the USEstablishedcorporatefinanceskillsandrelationshipsInvestmentbanking,capitalstrengthandglobalequitydistributionp
9、owerUnrivalledequitycapitalmarketsexpertise+=4Top5Europeanequitycapitalmarketshouse4Top10internationalequitycapitalmarketshouse4Over160dedicatedequitycapitalmarketsspecialistslocatedinkeyregionalcentresglobally4Establishedtrackrecordinkeysectorsandregions38505StrongrankingsintheQ12002bookrunnerleagu
10、etablesAAR teams continue to be active in the international equity capital marketsTop Bookrunners of European Equity Issues, Q1 2002Top Bookrunners and Joint Lead Managers of International Equity Issues, Q1 200238506No.1rankedinkeyEuropeanmarketsTop Global Co-ordinators, European equity offerings, H
11、2 2001Source CapitalDataBondware,globalco-ordinatorrolesonly,excludesrightsissuesandthedomestictranchesofinternationalofferingsIn H2 2001, ABN AMRO Rothschild was the No. 1 ranked Global Co-ordinator in European markets38507AARhaspioneeredandcompleted30transactionswithtotalsizeofUS$2,133minChinaHG /
12、 NMR / AAR Bookrunner in Chinas Equity & Equity Linked transactions since 1991Pioneered B share IPO - China Southern GlassFirst H share CB - Qingling MotorsFirst GEM listing upgrade to HK main board with placement38508ABNAMROsresearchstrengthinHK/ChinaandConsumersectorRespected by investorsAAR has t
13、op tier Asian consumer research team to provide in-depth coverageJeremySutch-HeadofHKResearch/HeadofConsumer/RetailKalinaIp-HeadofChina&StrategyAnton Kwang - Properties Eddie Wong-Asian Chief EconomistCheuk Wan Fan-China Strategy & Red ChipsOsbert Tan-Airlines/Transport/LogisticsAndrew Leeming-Head
14、of Asian BanksAdrian Fung -Utilities & Toll roadsMario Zhu-Electronics / ConsumersLiana Yung-Technology/ Internet/ SoftwareMichele Mak-Technology/HardwareIn addition to in-depth individual company analysis, the team also produces periodic publications4Daily flash notes4Weekly equity review4Quarterly
15、 sector, economic and strategy reportsThe HK/China teamIntroductiontoCITICSecuritiesCo.,Ltd(CITICS)385010ChinaInternationalTrust&InvestmentCorporation(CITIC)CITICFinancingHoldingCITIC Industrial BankCITIC Ka Wah Bank CITIC Securities Co., LtdChangseng Fund managementCITIC Prudential Life InsuranceCI
16、TICChinaslargestfinancingandinvestmentgroup4CITIC Financing Holding ,which will hold all the financing subsidiaries in CITIC, is to be established soon4As of end of 2000total assets were RMB 358.6 Billionnet assets were RMB 39.6 Billiontotal income was RMB 32.5 Billionnet profit was RMB 2,500 MillionThe largest Financing and investment corporation in China, with global presenceCITIC Securities Co., LtdCITIC Group3850114Corporate Finance CommitteeInvestment banking (Beijing, Shanghai, Shenzhen an
