Recently, A shares ushered in another wave of repurchase of listed companies. According to Choice data statistics, since October, 13 listed companies have issued repurchase announcements.
Among the 13 listed companies that issued repurchase announcements this month, 8 main board companies were the company, Science and Technology Innovation Board also accounted for 4 seats, while only 1 GEM company was the company.
Judging from the amount of repurchase, there are two listed companies with the highest upper limit of repurchase amount in this wave, namely Yahua Group and Weisheng Information, with the upper limit of repurchase amount of 300 million yuan; followed by Oppein Home, with the upper limit of repurchase amount of 250 million yuan; the less repurchase amount is Mugaodi , with the repurchase amount range of only 15 million yuan to 30 million yuan. After
issued a repurchase announcement, the stock price performance of each company was very different.
On October 13, the Science and Technology Innovation Board company Weisheng information disclosure repurchase plan, the total amount of funds repurchased by shares shall not be less than RMB 150 million (inclusive) and shall not exceed RMB 300 million (inclusive). After the announcement of
was disclosed, the company's stock price fluctuated upward. What is strange about is that on October 12, the day before the repurchase announcement was released, Weisheng Information's stock price rose by 7.8% on the same day.
In addition, after the repurchase announcement was released, both of Sanxia Tourism and Mugaodi rose by more than 3% on the same day.
The difference between the above-mentioned company's share price rise after the repurchase was that Yahua Group and Oppein Home Furnishings fell after the repurchase was announced. On the evening of October 16, Yahua Group issued a reminder announcement on the chairman's proposal to repurchase the company's shares, and the total amount of funds for repurchasing shares shall not be less than RMB 200 million (inclusive) and shall not exceed RMB 300 million (inclusive). Five trading days after the announcement was released, the stock fell 3.61% in a total of 3.61%, and there have been four consecutive negative losses in the past four trading days.
Oopai Home Furnishing issued a reminder announcement on receiving a recommendation from the controlling shareholder to repurchase the company's shares. The total amount of repurchase funds shall not be less than RMB 125 million (inclusive) and shall not exceed RMB 250 million (inclusive). It is worth mentioning that under the repurchase news, the stock price fell 5.35% on Friday, hitting a new low in the past two years.
This month, many listed companies may be related to regulatory repurchase of repurchase rules. On the news front, on October 14, the China Securities Regulatory Commission issued an announcement: It plans to revise the "Rules for Share Repurchase of Listed Companies" and the "Rules for Management of Shares of the Company held by Directors, Supervisors and Senior Management Personnel of Listed Companies and their Changes" and solicit public opinions, aiming to actively safeguard the company's investment value and the rights and interests of small and medium shareholders, and better adapt to market actual conditions and company needs.
Regarding the impact of the repurchase rules, Zheshang Securities stated that the repurchase rules are revised, 1) Reducing the repurchase trigger threshold and giving listed companies greater repurchase elasticity and autonomy; 2) Adjusting the implementation conditions for repurchase repurchase implementation of new listed companies is more in line with the actual situation in the early stage of new stock listing; 3) Reasonable definition of share issuance behavior is conducive to supporting the reasonable financing needs of listed companies; 4) Optimizing window arrangements will help to implement repurchase to safeguard the company's value and shareholders' rights.
In addition, Zhejiang Securities pointed out that revisions to repurchase rules often appear at the bottom of the market. reviews the historical evolution of my country's repurchase rules: Since the "Management Measures for Repurchasing Public Shares of Listed Companies" was officially released in 2005, regulators have successively conducted multiple rounds of revisions in 1 from October 2, 2008, April 2013, October 2018-January 2019. The time of policy adjustments is mostly coincided with the market's trough period. The promulgation and implementation of policies have accompanied the gradual stabilization and recovery of the market, reminding the supervision to release positive policy signals by regulating repurchase behavior and lowering the repurchase threshold.
This article is from Cailianshe
