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1999年10月15日中国海洋石油有限公司(以下简称海油有限)推迟上市的消息一公布,香港H股指数随即下挫4.2个百分点。“海油有限招股失利并宣布推迟上市”,这则令人猝不及防的消息如同迅雷,不仅令华人投资银行界陡然一震,而且引起了最高决策层的关注。一瞬间,被许多大型国有企业认为是“摇钱树”的国际资本市场似乎变得陌生和遥远起来。经过5年的“蛰伏”,国内企业又掀起了新一轮的上市热潮,中小企业板的开设、国际资本市场的全面复苏,一切的一切都在刺激着我们敏感的神经,然而,激情过后的理智告诉我们:上市之路并不是一片坦途。
As announced on October 15, 1999, China National Offshore Oil Co., Ltd. (hereinafter referred to as COOEC) delayed the listing, the H-Share Index in Hong Kong immediately dropped 4.2 percentage points. “CNOOC’s limited offering failed and its listing was postponed.” This unexpected catch was like a thunder. It not only caused a sudden start-up to the Chinese investment banking community, but also caught the attention of the top decision-makers. For a second, the international capital markets seen by many of the large state-owned enterprises as “cash cows” seem to be alien and distant. After 5 years of “dormancy,” domestic enterprises set off a new round of listing boom, the opening of SME board and the full recovery of international capital markets. Everything is stimulating our sensitive nerves. However, after the passion Reason tells us: the road to listing is not a smooth road.