Recently,Soochow SecuritiesRe-startAllotmentPlan to become the fourth proposed equity financing in the yearBroker. The science and technology board and the investment mechanism have spawned new demands for brokers to expand their net capital. At the same time, the stock prices of brokerage stocks have also risen sharply. These factors have resonated, which has caused listed brokers to switch from refinancing to allotment.
The rights issue plan was stranded last yearSoochow SecuritiesOn May 14thannouncementDisclosed the share placement plan, which is intended to be based on the ratio of not more than 3 shares for every 10 shares.shareholder(excluding companyRepoSpecial account) Placing, the proposed share placement will not exceed RMB 6.5 billion. It is reported that the allotment of this allotment is intended to increase capital, supplement working capital, expand the company's business scale, optimize business structure, and enhance the competitiveness and risk resistance of the East market.
August 2017,Soochow SecuritiesHas initiated the rights issue related work. However, in August 2018,Soochow SecuritiesAnnounced the termination of the rights issue. The company said that due to major changes in the market environment, in conjunction with the actual situation, it was decided to withdraw the relevant application documents for the rights issue. At that time, the outside world interpreted it asSoochow SecuritiesThe stock was affected by the low stock price of the market.
In 2018, the brokerage as a wholePerformanceBad,Soochow SecuritiesAlso at the "average level." The company realized in 2018Operating income4.162 billion yuan, realizedNet profit358 million yuan, down 54.52%. However, with the recovery of the stock market, the company's quarterly report directly “from winter to summer”, achieving revenue of 1.493 billion yuan, an increase of 81.26%; net profit of 613 million yuan, an increase of 943.73%.
At the same time as the performance turned around, the trend of the downturn in brokerage stocks also reversed this year. Starting from a wave of rising prices at the beginning of this year, brokerage stocks took the lead, with an average increase of more than 37%. One non-silverAnalystThe Shanghai Stock Exchange said that the allotment is not common in A-shares, especially for brokerage stocks. The financing method for listed companies to choose the rights issue is greatly affected by the timing of fundraising and the operation of the company's industry. When the market is expected to improve, investors will be more enthusiastic about allotment financing, and the success rate will be higher.
The brokerage has entered the pattern of refining the poor, the survival of the fittest, and accelerating the reshuffle. The competitive pattern of “the big ones are big, the strong ones are strong, the heads are concentrated, and the weak ones are eliminated” is accelerating. Therefore, the demand for securities companies to increase their net capital strength has become stronger. Whether it is the development of heavy capital business or the follow-up system of Kechuang board, it needs to have sufficient capital support.
The overall market activity is active and provides a better financing environment. The market value of listed brokers is on the rise as a whole, and the company's share allotment is enhanced. According to the statistics of the Shanghai Stock Exchange, this year,China Merchants Securities,Tianfeng SecuritieswithShanxi SecuritiesA share placement plan was issued, and the total amount of funds to be raised did not exceed 29 billion yuan.
China Merchants SecuritiesThe earliest release of the rights issue plan, the proposed share allotment does not exceed 15 billion yuan. Becoming the “biggest one” of the allotment plan of listed companies in the A-share market this year. Subsequently,Tianfeng SecuritiesFollow-up, said that the plan to allocate shares to all shareholders at a rate of no more than 3 shares for every 10 shares, the number of shares that can be issued does not exceed 1.554 billion shares, and the total amount of funds raised by the rights issue does not exceed 8 billion yuan.Shanxi SecuritiesIt also plans to raise no more than RMB 6 billion through the rights issue to develop capital intermediary business, bond self-operated business and capital increase for subsidiaries.
(Article source: Shanghai Securities News)