Category: Money tips Release Date: 2007-03-14
Today, the agricultural reform program does not announced Major Holders of shares, non-Sugu, but rather with the right to sell the way back to full hedging of shareholders because of the outstanding shares of stock instead likely to face the risk of market value has shrunk.
Company's controlling shareholder, Shenzhen City, the SASAC promised: If this is approved by shareholders share reform program adopted by the Assembly in the implementation date of the first 12 months of the last five trading days, all of the outstanding shares of the shareholders entitled to 425 yuan / unit (the Prices will be implemented in the company of cash dividends, Major Holders, provident funds and Zhuanzengguben when adjusted accordingly) will hold the outstanding shares of agricultural products sold to the Shenzhen Municipal SASAC.
When the news broke, the media explosion. Respected, criticism, and even abusive, and never stopped.
Say, OK, this is natural. Other stocks despite the varying degrees to the right price, but for investors, even fancies in envy at all. I first got the right price, the market inexorably in one step apart from the right, not only did not receive anything, and has also ushered in the full circulation. Many people have since appeared in the stock right after the sharp price fall, after full circulation also caused numerous losses of the new is really worse!
Not the same as agricultural products, to 3.35 yuan at current prices the shares held by investors, if you do not take into account the profits and losses in the past (other given to the price of the stock have no means to take into account), then the holders of one year, to 4.25 yuan can be sold to companies, for one year a net profit of 26.8%. So, regardless of how broader market down, regardless of how the other price of the stock price and the substantive right is a fake price tradable, but the farm will definitely give you at least 26.8% of the proceeds.
From this point of view, from the current price of other stocks resume trading trend point of view, agricultural products are the best.
However, the problem came.
Resumption of agricultural products after the year?
First of all, institutional investors will take the lead pro-gaze. 26.8% of revenue a year, too much. They entrusted financial management, an annual 8% return, but also the risk of carrying down the drain. After the purchase of agricultural products, they can rest in peace big money. Even some rights, human connections are handy speculators, you can use all means to melt into the funds, even if the cost of capital is higher than 8% or even up to 10% or more, as long as there are differences, we can safely a Bo.
This way, a little calculation we can see: if resumption of agricultural products, in fact, within two circuit breakers should not buy a lot of stocks.
If the resumption of agricultural products, the share price close to 4.25 yuan, it is more interesting - and agricultural products basically do not need to pay any price, can be achieved tradable. That is, a good program of agricultural products on the surface, giving the "right price" is true, but in reality, you are buying the stock after the program is likely to "enjoy" the brutality of tradable shareholders at current prices "treatment."
Moreover, even if the price is not that time to 4.25 Yuan - to remember that not a lot of difference, because we will be fame and fortune - then, in that little gap, large shareholders to spend a little bit as long as the means, you can go up. Go up when investors are chasing as a master, not only will not sell, but also to buy. In this way, major shareholders do not have to honor its promise can be achieved tradable.
Clearly, we see it, the program already holding shares in favor of old shareholders, it is necessary to suspect that the big shareholders, the circulation of the major shareholder of agricultural products out of his mind, so that the greatest beneficiaries of the existing outstanding shares of major shareholders. Well, such a windfall program, how did come about? What's inside an insider? In the future may see the outcome. But in any case, agricultural prices have gone wrong on an innovative program, but really for the outstanding shares of bring "price increases income" program, some analysts analysis concluded that: Because the majority shareholder of agricultural products have been holding the proportion of the small ( only 22% of the largest shareholder), so take this approach.
Thus we think that this can be pushed down, and to other companies.
Such as China International Marine Containers Group (000039 market, information, advice, more), a major shareholder holding only 16%, and similar agricultural products, while its texture is much higher than agricultural products, the dynamic price-earnings ratio is less than 5 times, a major shareholder, will also come such a program, such as the price of 13 yuan to buy back all shares, when?
