Listed Bank Brokerages Are Eager To Enrich Blood &Nbsp; This Year Intends To Finance 210 Billion 500 Million

You sing, I am on the stage.

This year, listed banks and brokerages broke out again.

In order to accelerate the pace of capital consumption and tighten the new regulatory standards, one side seeks "blood enriching" to meet the standards.

according to

Capital adequacy ratio of Listed Banks

Another 147 billion financing plan

After last year's massive financing, the listed banks again raised the refinancing scheme this year. According to the published data, 4 listed banks intend to raise 147 billion yuan by way of private placement, public offering and convertible bonds.

According to the CBRC's recent guidelines for the implementation of new regulatory standards for China's banking industry, the requirements for capital adequacy are: under normal conditions, the capital adequacy ratio of the systematic importance bank and the non systematic importance bank is not less than 11.5% and 10.5% respectively.

The new regulatory standards will be implemented in early 2012, and the systematic importance banks and non systematic importance banks need to reach the standard by the end of 2013 and by 2016, respectively.

"Taking into account the future regulatory risk measurement will be more stringent, the future trend is not optimistic."

A joint-stock bank wind control department recently told reporters.

By the end of 2010, China's banking financial institutions had a capital adequacy ratio of 12.2%, and most banks met regulatory standards.

Nevertheless, banks will face an "ischemic" problem in the future due to the rapid consumption of capital.

A quarterly report shows that the capital adequacy ratio disclosed by banks is generally lower than that at the end of last year.

The above said that although the definition of systemic important banks has not yet been finalized, the selection of the five major banks should not be suspense.

According to the new regulatory standards, the capital adequacy ratio of ICBC, BOC and CCB in the five largest banks can meet the excess capital requirements of the regulatory banks for systemically important banks; if the Agricultural Bank and the Bank of China want to meet the target by the end of 2013, external financing may be necessary.

In addition, according to the new regulatory standards, the capital adequacy ratio will increase by 0.5 percentage points for small and medium banks that may be classified as non systemically important banks.

Data show that the scale of refinancing of listed banks last year was as high as 270 billion yuan, making the A share market under pressure for a long time.

In the 2010 annual report of the four major industries of China, agriculture, industry and construction, the top four executives said that there was no refinancing plan in the near future or at least two years.

However, for the medium-sized banks that have not yet completed capital replenishment last year, the refinancing curtain has just begun.

In fact, since the beginning of this year, some listed banks under the new regulatory standards are facing the pressure of refinancing.

In April 15th, the China Banking Regulatory Commission announced that the 2010 annual shareholders' meeting to be held in May 30th to consider the special motion, authorized the board of directors to issue A shares and / or H-share new shares (including warrants and convertible bonds) in the "relevant period", and each of them does not exceed 20% of the total shares of A shares and / or H shares issued by the company respectively.

As of the first quarter of this year, the total share capital of China Merchants Bank is about 21 billion 577 million shares, of which A shares are 17 billion 666 million shares and H-shares are 3 billion 910 million shares. According to the above plan, the total amount of financing capital issued by the China Merchants Bank is up to 4 billion 315 million shares.

According to yesterday's closing price, the bank plans to raise up to 61 billion 800 million yuan.

In April 22nd, Everbright Bank announced that it had received an official reply from the CBRC and agreed that the company issued the first public offering of H shares and listed in Hongkong, with a scale of not more than 12 billion shares, and raised funds for supplementary capital.

If the A shares are issued at current prices, the IPO of China Everbright Bank may raise about 44 billion 900 million yuan.

In addition, Minsheng Bank's new refinancing scheme has been approved at the 2010 annual general meeting held in April 29th. A shares are convertible and H shares are publicly issued and the scale of financing is about 28 billion 500 million yuan. The Bank of Beijing announced in March that it would raise no more than 11 billion 800 million yuan in the form of non-public offering, and CITIC Bank recently said that the 26 billion share allotment of A+H shares in the bank was financed at the end of 6.

At the beginning of this year, Huaxia Bank's private placement financing scheme of no more than 20 billion 800 million yuan has been approved.

In line with the China Merchants Bank, the people's livelihood and the Beijing bank's successive equity refinancing program since the beginning of this year, with the first issuance of the H-share Bank of Everbright Bank, the total financing scale of the 4 banks is about 147 billion yuan.

If China's Bank of China and CITIC Bank have not yet completed the rights issue and private placement, the 6 banks are expected to raise the scale of financing to 193 billion 800 million yuan.

In addition to equity financing, this year's listed banks have also launched a bond market financing program.

Statistics show that since the beginning of this year, Pudong development, Huaxia, Xingye and ABC have launched sub debt issuance programs.

According to the statistics of our correspondent, the Bank of China, which was allowed to issue 32 billion yuan of subordinated debt, was included. In the next 1-3 years, 6 banks expect the issuance of subordinated debt to be about 163 billion yuan.

According to the plan announced by banks this year, the listed banks intend to issue RMB bonds and financial bonds at a scale of about 170 billion yuan.

Listed securities brokerage net capital

Financing is expected to be 63 billion 500 million yuan this year.

The desire of the securities companies to enhance net capital is more and more intense, and the background of the financing impulse of the securities companies is to expand the innovation business.

Listed brokerages, relying on their advantaged advantages, act as the vanguard of financing.

Statistics show that this year, 7 brokerages are expected to raise 63 billion 534 million yuan, of which 2 billion 534 million yuan has been implemented.

In 2010, Huatai Securities, Xingye securities and Shanxi securities IPO raised a total of 21 billion 441 million yuan, plus 5 billion 944 million yuan raised by Southwest Securities, and 4 brokerages combined to raise 27 billion 385 million yuan, only 43% this year.

In March 9, 2010, Changjiang Securities announced the result of the additional issuance, and determined that the final issue amount was 200 million shares, and the total amount of the total raised was 2 billion 534 million yuan.

Though far from the proposed 9 billion yuan fund-raising amount, Changjiang Securities first completed the refinancing plan this year.

In February 17, 2010, the Pacific Securities announcement issued a public offering of no more than 500 million shares and raised no more than 5 billion yuan.

In February 22nd, Hongyuan securities announced that it would issue no more than 500 million shares (including 500 million shares) to specific investors, and the total amount raised would not exceed 7 billion yuan.

The financing options for Northeast Securities have not been approved after several changes.

In June 18, 2010, the Northeast Securities announcement was planned to extend 10 to 3 shares with a plan of raising no more than 4 billion yuan for a year.

So far, financing schemes have not resulted.

GF Securities Financing is more generous. It intends to issue no more than 10 specific objects to no more than 600 million shares, and the total amount of raised funds will not exceed 18 billion yuan.

Its refinancing scheme has been accepted by the SFC in March this year and is under examination and approval.

The financing of listed brokerages is not only in the A share market, but also in the H-share market.

In March 29, 2011, CITIC Securities announced that the company intends to issue foreign listed foreign shares (H shares) and apply for listing on the main board of the Hongkong stock exchange, with a face value of 1 yuan per share.

Although CITIC Securities did not give a specific issue price, the number of H-shares issued according to the statement does not exceed 10% of the total share capital of the company after issuance, and the total amount of the fund raising is about 15 billion yuan.

The time is less than a month. In April 26, 2011, Haitong Securities announced that it would not issue more than 13% of the total share capital issued after the issuance of the H shares. It also granted the bookkeeper managers no more than 15% of the H shares.

The scale of financing is expected to be around 12 billion yuan.

If the above brokers' fund-raising plans can be completed by the end of this year, the total amount of financing will reach 63 billion 500 million yuan.

Under the background of the pformation of securities firms, net capital has become a key link for securities companies to become bigger and stronger.

In the future, the thickness of the net capital of a broker will determine the height of its development.

At present, under the control system with net capital as the core, the level of net capital determines not only the size of various businesses, but also directly affects the regulatory rating of securities companies, as well as the acquisition of new business qualifications such as margin trading, futures hedging and direct investment.

The securities and Futures Commission issued this month stipulates that from June 1st this year, the investment scope of securities companies' proprietary business will be expanded, and a subsidiary can be set up to invest in financial products other than the list of proprietary varieties.

According to the regulations of the wind control management of securities companies, when calculating the net capital of securities companies, the share of their investment in such subsidiaries will be reduced by 100%.

The announcement of raising funds by brokerages is almost the same.

Fundraising notice said that fund-raising will be used to increase company capital, supplement company working capital and expand company business.

From the specific point of view, one is to set up business outlets; the two is to carry out innovative businesses such as margin trading; the three is to strengthen investment banking business and increase direct investment; the four is to expand the scale of asset management; five is to increase Futures Company.

CITIC Securities said that the use of H-share funds will be supplemented by supplementary capital for the construction of overseas business platforms.

Wind statistics show that as of the end of last year, 10 of the 106 brokerages had net capital of more than 10 billion yuan, and the top three were listed brokerages: CITIC Securities 41 billion 50 million yuan, Haitong Securities 32 billion 460 million yuan, and Huatai Securities 21 billion 658 million yuan.

The net capital of listed brokerages is more than 10 billion yuan, including 17 billion 647 million yuan of Everbright Securities, 14 billion 64 million yuan of China Merchants Securities, 11 billion 963 million yuan of GF Securities, and 11 billion 771 million yuan of securities of state securities.

Net capital below 5 billion yuan is Shanxi securities, Northeast Securities, state securities and Pacific Securities 4.

The contest to raise net capital is not only launched among listed brokerages, but also unlisted brokerages or planning to go public or increase capital and expand shares.