Shanghai Pudong Development Bank to create nine billionaires
September 30, Shanghai Pudong Development Bank (600000, closing price of 20.99 yuan) issued a public notice said the company targeted the completion of issuance. The total of the Shanghai Pudong Development Haitong securities (600,837, closing price of 13.87 yuan), Pacific Asset Management Co., Ltd. and other organizations and individuals together nine issued 904 million shares, issue price of 16.59 yuan / share, raising funds to reach the net 14.827 billion yuan.
However, because adequacy ratio and core capital adequacy ratio does not meet regulatory requirements, the company’s future is still financing requirements.
Shanghai Pudong Development Bank rose 6.82% yesterday to close at 20.99 yuan, compared with its private placement price-earnings ratio of 26.52% floating. In other words, these nine organizations and individuals involved in the additional Although there can not be sold, but the book has been floating total nearly 4 billion yuan profit.
Ying Liu Yiqian 400 million yuan float
According to the announcement, this private placement, the Hai Tong Securities to subscribe for the largest number of shares allocated 120 million to spend 1.992 billion yuan of funds. A few years ago in the capital markets to benefit the Youngor quite good again, heavy attack, the allocation of 106 million shares, the cost will amount 1.759 billion yuan. Is allocated the least number of Taikang Asset Management Co., Ltd., number of 9054.25 million to be allocated.
It is worth mentioning is that the “king of corporate shares,” Liu Yiqian in July, following a cost of 1.085 billion yuan this year, strike Poly Real Estate (600,048 to close at 25.15 yuan), 476 million yuan to attack Golden Group (600,383 to close at 13.62 yuan) and other companies targeted by issued later, the re-invested 1.522 billion yuan, to be allocated 9171.97 million. In accordance with yesterday’s closing price, Liu Yiqian the investment book has reached 404 million floating-profit.
Future financing requirements are still
In early 2008, Shanghai Pudong Development Bank Board of Directors due to financial constraints, consideration of additional A shares through a public motion. Shanghai Pudong Development would be issued when the market is expected to 1 billion shares, raising 40 billion yuan. Shanghai Pudong Development high finance stock speculation, which was then hit a downward spiral, coupled with 2008 A-share market situation is grim, Shanghai Pudong Development has been issuing the stock did not take place.
But the capital adequacy ratio has been plagued Shanghai Pudong Development of a major challenge. 2009 mid-year report shows that as at the end of the second quarter, Shanghai Pudong Development’s capital adequacy ratio and core capital adequacy ratio was only 8.11% and 4.68%, close to the red line supervision. Therefore, in the first half of A-share market rebounded sharply against the backdrop of early May general meeting of shareholders adopted the Shanghai Pudong Development no more than 300 billion fund-raising program, which issue stock to raise no more than 150 million subordinated debt issue no more than 15 billion yuan .
It is worth mentioning that Shanghai Pudong Development said in a public notice, this private placement is completed, a company’s capital adequacy ratio and core capital adequacy ratio raised to 9.63% and 6.20%, but still less than the current capital of China Banking Regulatory Commission on the small and medium banks adequacy rate of 10% of the statutory requirements. Therefore, some analysts believe that in an increasingly stringent regulatory environment, the Shanghai Pudong Development Bank is still financing requirements.
After a joint stock calculations concluded that the next 1 to 2 years may also release 15 billion yuan Shanghai Pudong Development of the financing package.
In fact, in September 18th, Shanghai Pudong Development Bank once issued “on the company’s long-term capital planning notice,” said the company should continue to broaden the capital to add channels, to “the regulatory permit conditions, to accelerate the pace of innovation, through the overseas market, innovation and a capital, hybrid capital bonds, and other external sources to form a diversified, dynamic and complementary mechanisms of capital in different markets. “
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