Category: Money tips Release Date: 2006-02-14
The market is a teacher.
Warrants have been listed for three days. He brought in new market valuation.
In accordance with an exercise price terms, one year after the market price of Baosteel should be at least higher than 4.5 +1.8 = 6.3 yuan, or 37% or more that is.
The index should correspond to up to 1600 points.
One year to achieve this goal, you can accept the fact?
Therefore, we propose a new perspective, see if you can inspire people thinking.
That is: Daobi.
Premise: an important theoretical assumption is that the capital market interests above everything else!
So who is the best interests of Baosteel Warrants Baosteel Group, through the line warrants tenure arrangements, to be taking two years in advance the amount of 387.7 million * 4.5 = 1.74465 billion yuan of capital.
Clearly enjoys the money on the premise that all warrant holders the right line, that is, the market price of Baosteel expiration must be greater than exercise price equal to the C of E +. In turn, do not warrant holder the right lines, Baosteel will be a loss of 1.74465 billion yuan of funds in the amount of value within two years. In accordance with the capital market lending rate to analyze the current lending rate is about civil society 12%, 2 years is 24%, the interest is about 418.71 million yuan. This may be less Baoshan Iron and Steel Group, 1.7 billion of this amount caused by the most direct consequences.
Baosteel, if this could be 1.7 billion in order to get the money to do?
This is a Daobi problem. In fact warrant the high price that is forcing the Baosteel Group warrants careful consideration of the funds can not be OK to bring pressure on the right.
So we found that: Baosteel Group has always been to ensure that the holding ratio of 67%, thus he sold the shares for at most 136.35 thousand shares, while the options were the equivalent of 387.7 million shares he may sell 28% of the total, this is not a small number of . This is obviously a year after Baosteel Group's holdings of tradable attempt to sell 30% stake in the direct evidence. Baosteel Group is the thirst for capital is very high?
Unknown.
Everything is unknown.
But the market is price discovery function.
Most of the simple idea: Baosteel Group, the share price to make up, not to solve the problem?
Dao Bi, is this meant to force Baosteel Group, the fore and take the initiative to make stock. In fact, China's stock market foul, originally not Chizhai Buddhism place. Baosteel Group for stock prices, there are obvious Delong Department of experience to refer to, but also in gold early on, shouting slogans Baosteel highly recommended. So, anything is possible. Do not think that listed companies can not manipulate their stock prices.
More worthy of pondering a problem is the funds in stocks and shares of Baosteel can be recovered through the market and may be not the cost, with the exception of this reduction of funds received is in vain, and the more the better ah.
Therefore, we explicitly assume that warrant the high prices of A shares Daobi G Baosteel prices.
This should be simple yet clear the market of the original driving force.
But precisely because of the spontaneous hazy speculation, the market price discovery mechanism can really started. In looking behind the operation of disorder is actually an orderly manner.
The market tomorrow. Baosteel Warrants all those involved in speculative forces are portrayed!
These keen T +0 market of the most crazy of the most active short-term speculators, and their feelings and ideas are being passed to the market price of warrant transmission.
So power of examples is endless.
Wealth effect on people's nerves are going crazy to get people to believe that the future is so bright.
And this result can only be heaven-sent opportunity for the adoption of disorderly market performance can be found.
Once controlled, there is no fun.
