Category: Money tips Release Date: 2007-03-27
Source: Tan Weicheng Bohai Securities
Today, tape Gaokaidizou, volume can significantly shrink. Disk observations, Qingdao Haier, Changlin, the United States are active in controlling and so on, or were 5 points or more. Through our careful observation and careful analysis, we believe that the recent hot spots locked in with the theme of individual stocks on the private placement. Have directed additional subjects because of the recent performance of individual stocks are active, or are not small. Additional orientation is actually a common private placement abroad. Ie the non-public offering investors, issued a specific meaning.
In the overall listing of companies, private placement is a relatively common approach, that is directed through the group a full acquisition of additional assets to achieve group listed as a whole. However, as corporate restructuring as a main channel, directed issuance can be described as a win-win choice, not only to listed companies, financial funds needed for most of the additional agencies have been involved with the listed company's share price rose learned a lot. In fact, the orientation of at least three additional advantages: First, private placement is likely to increase the performance of listed companies to bring instant results, the second private placement is conducive to the introduction of strategic investors for the company's long-term development and lay a solid foundation for ; third private placement have also changed in the past or the allotment of additional shares to bring pressure on the pattern, it is because the private placement is somewhat similar to "private" and would not increase the secondary market demand for funds, but will not change the secondary market deposit the amount of capital structure. In addition, because the price of additional directional secondary market prices are often lower than a certain premium, which will also help to increase the confidence of the secondary market investor's stake.
Orientation of the company's share price additional impetus to the body to be most vividly in the Hudong Heavy interpretations. Hudong Heavy to its controlling shareholder China State Shipbuilding Corporation and other specific objects, the total number of non-public offering of shares is not more than 40,000 million new shares. Since then its stock price rose 30 yuan began to accelerate, and even pull seven daily limit, once washed a few days ago to 102 yuan. Implemented or to be implemented while the other directed the additional shares, but also most rapid increases occurred. Additional object-orientation is not any ordinary investors, primarily for the company's related parties, such as the parent or related companies, or for the funds and other professional investment institutions. Additional cash payments to the company in general an object, or injection of assets, issuance price of not less than the price 20 trading days before the benchmark stock average's 90%.
In-floating environment, the major shareholder of listed companies in order to firmly take control must have sufficient equity, but through the split share structure reform, a number of major shareholders holding a significant decline in the proportion of directional additional help to regain control of major shareholders Right. Moreover, these additional shares can be traded after three years, major shareholders also have access to the potential capital gains; for small and medium investors, private placement can improve the company's net assets per share. According to the new rules, the controlling shareholder orientation of the additional shares within three years can not be traded, the controlling shareholder in the issuance of at least the first three years, there is a strong incentive to maximize the realization of the company's interests. Among them, communications, electric power, coal and resource-oriented industry, there are more additional opportunities. Such as Top Energy, Inner Mongolia Huadian Power and other companies can rely on the major shareholder of a large multiple of the fine on their own assets to achieve its size and performance of the explosive growth. From a security and benefits of the dual considerations, we recommend that investors take an active interest in Tianjin Hongfeng (000,594) the company raised 1.16 billion through private placement funds, plans for the acquisition of the railway company's equity and Luocen railway projects. Luocen railways in Guangdong and Guangxi "Pan-Pearl River Delta" economic and trade cooperation signed one of the key projects in the future company with the "Pan-Pearl River Delta" for further economic and trade cooperation has developed rapidly. Space for future growth of the unit is extremely broad, it is recommended you focus on.
