Listed Companies Exceed 80 Billion 800 Million Of &Nbsp, And More Than 70% Of Them Are In The Bank.

Face to face

This year nearly 60 billion over raise

Since the fourth quarter of 2010, the central bank has increased interest rates 5 times and raised the deposit reserve ratio for the 12 time. Not only the interbank funding shortage has intensified, but also from the Yangtze River Delta to the Pearl River Delta region, the financing difficulty of SMEs has become an indisputable fact, and the cost of financing has risen sharply.

Compared with these "tight money" enterprises, the newly listed companies no doubt entered the "safe haven", not only through the initial financing to solve the investment and expansion of capital demand, but also a large amount of funds raised by the oversubscription is "more than 35 fighting", and truly achieved "no bad money".

Statistics show that a total of 172 companies have been listed on the market since the beginning of this year, raising the total amount of funds to 164 billion 662 million yuan, of which the total raised funds amounted to 80 billion 844 million yuan, accounting for 49.10%.

Due to the lack of suitable investment projects, most of these fundraising funds lie in the bank "eat interest".

As of July 19, 2011, 92 companies disclosed the use of over raised funds, including 157 investment projects, and the total utilization of funds was 20 billion 981 million yuan.

That is to say, in the 80 billion 844 million yuan large amount of raised funds, there are 59 billion 863 million yuan in the bank, accounting for 74% of the funds raised.

According to the current one-year deposit rate of 3.50%, 172 new shares can earn more than 2 billion yuan each year by means of "raising interest" with over raised funds.

The main function of the stock market should be the allocation of resources, which guides investors to the production and investment of enterprises. However, due to the popularization of high priced issuance, the actual scale of raising funds far exceeds the financing needs of enterprises.

According to regulations, over raised funds must be invested in main business, and can not be used for securities investment and entrust financial management. However, "no cost" and "random spending" also make a large amount of overfund cause waste of resources.

13 billion 200 million funds to raise blood and repay debts

In the 92 companies that disclose information, the use of over raised funds can be described as multifarious, including project investment and stock ownership.

But is the investment of 20 billion 900 million yuan really on the cutting edge?

In the 157 investment projects, over raised funds are mainly used to supplement working capital, repay loans, purchase real estate and land, and invest in projects.

Among them, the funds pferred to bank loans and supplementary working capital were 7 billion 140 million yuan and 6 billion 122 million yuan respectively, accounting for 34% and 29% respectively.

That is to say, over 2/3 of the funds raised are used as "blood enriching".

From the perspective of the use of fund-raising funds, the listed companies basically appeared polarization. On the one hand, 80 companies have not disclosed the purpose of any raised funds, keeping the "no action"; on the other hand, among the 92 companies that have been disclosed, 14 companies have already used the super fund-raising money.

The new twin stars that are not listed soon are the biggest companies in these companies.

In June 28th, the board of directors of the company decided to invest all the extra funds to invest in the construction of "50 thousand tons of solar cell packaging material base project" and "annual output of 120 thousand tons of new functional polyester film and 180 thousand tons of functional film grade slicing project".

Compared with all new investment materials, Tongyu heavy industry has adopted a multi pronged approach. Over 189 million 725 thousand and 600 yuan has been raised to repay bank loans, 20 million 274 thousand and 400 yuan is used to supplement liquidity, and another 857 million 420 thousand and 200 yuan is used for the main business of the company.

So far, Tongyu heavy industry 1 billion 67 million yuan of all raised funds have been used.

Analysts say that the over subscription has become a common phenomenon, which brings about the concentrated outbreak of the new stock raising fund in a short time. However, how to solve the large number of idle funds and make the financing really enhance the business performance service has become an urgent problem for the stock market.