OREANDA-NEWS. August 16, 2012. The Ministry of Finance issued RMB treasury bonds in Hong Kong for the fourth time in 2012, which happens to be the 15th anniversary of Hong Kong’s return to the motherland. Agricultural Bank of China Limited (ABC) Hong Kong Branch acted as the co-initiator and bookkeeper of this bond issuance, and performed well in bond underwriting and the issuance tender, reported the press-centre of ABC.

On June 28, a tender was held for treasury bonds targeting at institutions. ABC Hong Kong Branch offered a bid of RMB4.04 billion, accounting for 6.88% of the institutional subscription amount of RMB58.7 billion. It won a bid of RMB661.5 million, 4.27% of the total institutional offering of RMB15.5 billion. The branch has successfully fulfilled its duty on underwriting.

It is learned that due to admirable performance of ABC last year, the Ministry of Finance appointed ABC Hong Kong Branch again as the co-initiator and bookkeeper for this RMB treasury bond issuance. Highly valuing the task, the branch earnestly studied the market and took care of every detail for bond issuance. The branch made advertisement in Hong Kong airport and several media such as Ta Kung Pao, and achieved good results for promotion. As for client marketing, the branch won bid orders from 11 clients, almost double of last year; 8 clients won the bid, a substantial rise compared with last year; the proportion of clients’ bid-winning reached up to 43.78%.

Meanwhile, ABC Hong Kong Branch has developed a group of high-quality institutional clients, refined its business team and further enhanced its expertise, laid solid foundation for expanding bond underwriting and distribution in the future.