The involution of the convertible bond subscription is too serious, tens of millions of troops are fighting in a melee, and it is a typical situation where there are more monks than more people. Whether it hits or misses depends entirely on the face. This has caused many people to start buying the underlying shares to allocate bonds when convertible bonds are issued. However, many friends report that debt allocation fails in most cases. In fact, careful analysis of past data will reveal that the success of latent debt allocation will still be affected by many factors such as the timing of intervention, the market environment, the fundamentals of the underlying stock, the theme of the underlying stock, position management, safety cushion and so on. .
In recent days, the overall market situation has been too bad, the convertible bond market has been sluggish, trading volume and premiums have continued to decline, and the overall liquidity is very poor. This resulted in a double blow to the income from allotment of bonds: the stock price dropped + the sentiment of bond allotment was at a freezing point. Therefore, if you cannot choose a good target in advance, the effect of losing money will be obvious. Among the approved convertible bonds that have been released, except for Huaibei Mining due to the rise in coal prices, all other potential targets have been buried. The recent market conditions are weak, and it is necessary to have strong analysis and judgment ability on the market, industry and underlying stocks.
Let’s talk about the information about the convertible bonds that have been approved recently:
The issuance speed of convertible bonds has slowed down recently. Recently, only Kelan convertible bonds have been confirmed to be issued as early as August 30. There is no news about the others. In addition, the approval has not yet been released. Four companies have been added, and the issuance scale is also relatively large.
Approved before (approved before August 20):
Latest approval (as of August 27):
The above convertible bonds have been approved by the China Securities Regulatory Commission. The specific subscription time will be updated and posted as soon as the company announces it ( Under normal circumstances, it ranges from 20 to 40 days after the approval announcement. Exceptionally, it may take several months. issuance or final termination of issuance, so this is also one of the risks to be considered in potential debt allocation).
Under the new regulations, Shanghai-listed convertible bonds can still be allotted by the first party, but the stability of the allocation is affected by whether the major shareholders allocate in full and the small shareholders rush to allocate the bonds.
Special statement: The content of this article only represents personal research opinions and opinions. The content is also shared free of charge and does not constitute any investment advice. The data in this article are also excerpts compiled by individuals. If there is any discrepancy, please refer to the listing announcement.
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