More and more share allocations are available. Mastering the knowledge of share allocation and avoiding inexplicable losses is related to you and me.
first talk about the key points. There are two companies allocating shares this week. If the operation is not properly done, it may instantly cause you to eat a big negative line.
Hengtong Technology (300374)
is tomorrow! If you don’t want to pay money to participate in the share allotment, be sure to sell it before the close of this Monday.
Hengtong Technology's allotment ratio is 3 shares per 10 shares, the allotment price is 11.12 yuan per share, the allotment code is "380374", and the allotment abbreviation is "Hengtong A1 Allotment".
is assuming that the closing price of 18 yuan on December 15, if you don’t sell or share shares, how much will the loss be?
share allotment ex-rights price = (closing price on the day of ex-rights registration + share allotment price * share allotment ratio) / (1+ share allotment ratio)
(18+11.12*0.3)/ (1+0.3) = 16.41 yuan
Loss will reach nearly 9 percentage points, At the same time, it will have to endure a week of suspension.
Xiangyu Co., Ltd. (600057)
is the day after tomorrow! If you don’t want to pay money to participate in the share allotment, be sure to sell it before the close of this Tuesday.
Xiangyu shares' allotment ratio is 2.5 shares per 10 shares, the allotment code is "700057", the allotment abbreviation is "Xiangyu shares", and the allotment price is 6.10 yuan per share.
is assuming that the closing price of 8.67 yuan on December 15, if you don’t sell or share shares, how much will the loss be?
(8.67+6.1*0.25)/(1+0.25) = 8.15 yuan
will also have a loss of about 6 percentage points, and will also have to endure a week's suspension.
Do all stocks with stock allocation plans have to be sold? Of course not ! The price of issuance is discounted, and many investors will want discounted shares. What I reminded here is not to lose money in vain because of not understanding technical operations. The process of
share allotment needs to be approved by the board of directors, shareholders' meeting, the Issuance and Listing Committee, and the China Securities Regulatory Commission in turn. The last step is the issuance of approval documents by the China Securities Regulatory Commission. Up to now, all share allotment plans that have obtained approval from the China Securities Regulatory Commission have completed share allotment or are being implemented. The next share allotment cases should be produced on the list that has been approved by the Issuance and Listing Committee. The following 13 individual stocks have been approved by the Issuance and Listing Committee. The next step is to be approved by the China Securities Regulatory Commission to start the official issuance.
Since the beginning of this year, 33 listed companies have issued share allotment plans. Last year, there were only 14 listed companies that issued share allotment plans, only 13 in 2015, and only 7 in 2014. In other words, the number of shares allotment companies this year is the sum of nearly the past three years. Why are there so many shares allotment this year?
company went public. In addition to raising funds for IPOs, there will also be financing needs in the subsequent development of the company, that is, refinancing. In A-shares, there are three main ways to refinancing: additional issuance, share issuance, and convertible bonds. Additional issuance is the most commonly used. For example, in 2016, the scale of refinancing was more than 10 times the scale of initial issuance, of which more than 85% of the refinancing method was chosen.
However, in February this year, the China Securities Regulatory Commission issued new regulations on the issuance of listed companies, and the scale and frequency of the issuance of listed companies were both limited. Companies with refinancing demand have begun to turn to other methods. Refinancing methods such as share allocation and convertible bonds have quietly heated up. Many companies have given up private placement and issued convertible bonds or issued share placement. For example, companies such as Xinghui Entertainment, Kangyuan, and Yinxin Technology have given up private placement and launched share placement plans.
It is expected that more and more companies will allocate shares in the future, and every investor needs to understand this lesson.
01 Why didn’t the company like share allocation before?
Because the share allotment is for all shareholders, major shareholders also have to spend a lot of funds to participate in the share allotment. The more shares they hold, the more allotment they get. Therefore, for some major shareholders who are short of funds, there is a lot of pressure. Therefore, from this perspective, it is difficult for share allocation to become a mainstream refinancing method.
2 The higher the discount on the share allotment, the better?
may not be! According to regulations, the share allocation price should be no less than the net assets per share. The more discounts the investors who do not participate in the issuance, the more losses they lose (unless they are sold). For investors who participate in the issuance, they are not actually able to get a bargain. The proportion of your shares to the company's total market value remains unchanged before and after the ex-rights.High discounts often have the meaning of strengthening all shareholders' participation in the share allotment.
For example, Tianqi Lithium has a latest closing price of 58.13 yuan and a share allocation price of 11.06 yuan. This discount is considered high. It is suspected that a large number of shareholders who are unwilling to allocate shares fled before the equity registration date, resulting in a sharp drop on the same day.
3 When you encounter the stock you are in, you want to allocate shares, or not?
If you love deeply, please allocate shares; if you don’t love, sell it quickly.
For old shareholders, share allocation is equivalent to an opportunity for additional investment. Whether to participate in the share allotment needs to be based on performance, investment direction and efficiency of the share allotment funds. Simply put, it is based on your judgment on the value of the company.
If you don’t want to invest additionally and want to maintain the existing shareholding market value, you can sell some of your holdings to pay for the shareholding. I couldn't participate in the share allotment with 5,000 shares. I sold 1,000 shares at the market price, and then distributed 1,000 shares at a discount.
If you miss the sale before the equity registration date, then the best choice is to pay the share allotment. As long as the stock price does not fall below the share allotment price after ex-rights, the share allotment loss will be less than the non-equity.
4 I don’t participate in the share allotment or sell stocks. Will there be any losses?
has a huge loss. After is allocated, the right will be ex-rights. If you do not participate in the allotment, the number of shares held will not change, and losses will be directly caused. The previous two have been calculated, and the losses are close to 9% and the losses are close to 6%. Can
5 be partially matched or not?
cannot. If you decide to allocate shares in , it is best to allocate enough shares. Otherwise, the principle is the same as above. How to calculate the number of shares allotment in
6?
If you hold 10,000 shares and the share allotment plan is 10 shares, you can get 3,000 shares.
Among them, the Shenzhen Stock Exchange stipulates that the share allotment is less than 1 share, and the small number of shares will be carried to the large number of shareholders to achieve the smallest accounting unit of 1 share.
Everyone must pay attention to it. Calculate your share allotment accurately and can only subscribe to shares equal to or less than the number of shares that can be allotted. Otherwise, it may be rejected by the exchange due to the large amount of entrusted subscriptions, causing unnecessary losses.
7 How to confirm whether the share allocation is valid?
Since there are restrictions on the subscription and allocation time, those who fail to pay the payment after will automatically give up the allocation, and there is no way to make up the payment later. Therefore, it is very important to whether the subscription is confirmed after the share allotment. Investors of the share allotment can verify through various channels such as printing delivery orders and calling brokerage phone numbers to determine whether the subscription is valid.
also reminds investors that it is best not to catch the last bus when participating in the share allocation, so as not to make any mistakes in case of operation and no time to remedy it. When will the allotted shares of
8 be listed?
share allocation is not immediately available. After the share allocation payment is completed, after the company publishes an announcement of share changes, it will be announced separately after arrangements from the stock exchange. Can I automatically deduct money if I have money in my account?
is not allowed. must place an order manually.
10 Is there a handling fee to pay for the share allotment?
is not used. commission, transfer fee, stamp duty, issuance fee, etc. are not required.
11 How to understand the share allocation information in a timely manner?
Some investors "pretend to death" for a long time. If they hold the shares and don't know, they will neither pay the money nor sell it in time, they will suffer heavy losses. What should I do?
For share allotment information, listed companies will issue announcements to remind them continuously, and securities companies will generally prompt them on the market software and official website. In addition, some securities companies will notify investors through phone calls, text messages, etc. We also remind everyone that you should try not to block the service numbers of brokers when your mobile phones.
However, due to changes in the investor's contact information, investors are still not in contact. Therefore, securities companies often remind investors to update their contact information in a timely manner. If you don’t watch the market frequently, pick up the phone now and check and update your contact information with the securities company. This is not empty talk, it is indeed very important! Are the shares allotment of
12A shares and the shares allotment of Hong Kong shares ?
is not the same thing at all.
The Hong Kong stock Sunac China's share allotment has been in full swing in the past few days. On December 15, as soon as the news of Sunac's H-share allocation financing of US$1 billion was released, the stock price plummeted by more than 10%.
The share allotment of Hong Kong stocks is more like a private placement of A-shares, with targeted allotment to some institutions. No regulatory approval is required, the process is very short and fast. The share allotment can also be completed by the old first and then the new model: the major shareholder first transfers the old shares to the participating allotment parties, and the allotment funds will be transferred to the listed company. The placement party can trade after obtaining the shares on the same day.
At this time, the number of shares remains unchanged, but the listed company raises money, and then the listed company then proceeds to increase shares, and the added shares are returned to the major shareholder, and the number of shares of the major shareholder is restored. This is to raise funds in the shortest time. This is the method that Sunac chose this time.
For listed companies, it is so fast that they can develop their business quickly within a few days. As long as you have funds to subscribe, you can issue it. For example, Sunac has allocated shares once in July this year, raising HK$4 billion. Now, it is about to raise another US$1 billion in less than half a year.
From a technical perspective, A-share share allotment is a bit like the right to stocks in Hong Kong stocks, but the difference is also very big. The right to stocks in Hong Kong stocks is the favorite of many scam stocks. Placement to all investors. The major shareholder continues to sell stocks, lower the stock price, and make a right to stock, such as 1 and 2. That is to say, if you have 1,000 shares in one hand, you can buy 2,000 shares in two hand at the right to stock price. Of course you can not provide, but generally the stock price of the supply is lower than the market price. If you do not provide, the number of shares will increase, which will reduce the equity and increase the funds. This is a dilemma. The money that the major shareholder cashes out will be used to get back more stocks, and many of the unpopular shares will be diluted. The major shareholder then sells the stocks again, then falls again, and then makes the shares. The stock price is very low and then combined, 50 shares are integrated... Repeated operations can make investors lose all their money.
However, there is no need to worry that this model will appear in A-shares. After all, A-share share allocation needs to be strictly approved, and there is a check by the Issuance and Listing Committee. For Hong Kong stocks, within 12 months, the total proportion of rights reserves shall not exceed 2 for 1 (that is, every 2 shares held for 1 share), and they can be directly implemented without even having to hold a shareholders' meeting.
Author: Tang Wei
