Venture Capital Reserve Price "Pawn" Stock For Cash

Although the price of gold Asia technology is still on the low side since listing, although the first batch of restricted shares can be lifted after 4 months, Changsha Xin Ao Venture Capital Co., Ltd. has been hastened to pledge its financing stake.

And venture capital's thirst for capital has also led to market speculation: the first 28 in November this year.

Hunan trust's website information shows that after a short promotion, its "Hunan trust gold Asia Technology equity interest acquisition project collection trust scheme" launched in June 17th was formally established on 24, and the project raised a total of 60 million yuan.

According to the Hunan trust related personage, the above fundraising will be used to buy the beneficial right of gold Asia Technology Limited tradable shares held by Xin Ao venture, and then get the trust income.

"The essence of the trust plan is that Xin Ao ventures will pledge the shares of gold Asia technology stock to us, thereby obtaining the above 60 million yuan financing, and as a condition, Xin Ao venture will pay a certain" financing interest "to the trust institutions and the trust beneficiaries on time.

The Hunan trust told reporters that the trust plan expects an annual yield of 6.5%.

Xin Ao ventures currently holds 8 million 400 thousand shares of gold Asia Technology (dividends after shareholding), of which 6 million shares will be fully lifted in November this year. If the latest stock price of gold Asia technology is 17.55 yuan, the 6 million shares corresponding to the market value has reached 105 million yuan.

Analysts pointed out that compared with the price of gold Asia listed at the initial stage of three or forty yuan, the company's share price has dropped to below 20 yuan in recent years, but even so, Xin Ao venture capital is still in the restricted stock market only 4 months after the lifting of the ban on its pledge financing, and its degree of thirst for funds can be seen.

Before Xin Ao venture capital, Lanshan Investment Limited of Silver River shares limited to CITIC Trust in January of this year.

In contrast, although Xin Ao ventures has pledged shares to the Hunan trust, it has not been disclosed to the public through a notice of a listed company.

It is inevitable to speculate whether there are other investment institutions in the GEM market, which are financing in a low profile through "invisible" pledge.

Some analysts said that the gem restricted sale shareholders, represented by venture capital, used their holdings in pledge for financing during the selling period, and were willing to pay the related expenses, which showed that their capital chains were tight, which made it possible to increase the possibility of large scale cash holdings after the lifting of shares.

In the opinion of the analyst, unlike the general investors, most of the venture capital shareholders who have fully earned the "listing premium" will withdraw from the listed companies after the listing of the listed companies, and will use the cash to invest in other potential projects.

And at this juncture, in the face of the high valuation of GEM companies, the lower shareholder price of venture capital shareholders will become the biggest driving force for its cash holdings.

Indeed, taking Xin Ao venture capital as an example, its investment cost to gold Asia technology is only 18 million 500 thousand yuan before its listing, compared with the market value of gold Asia Technology 147 million yuan holdings, so that it has recorded 7 times the investment surplus in just two years.

At the same time, although the price of gold Asia technology has experienced a sharp decline, the company's dynamic price earnings ratio is still 121 times this year.

Reporter statistics found that according to the first 28 listed companies in October last year