In The First Three Quarters, A Shares Were Increased By 336 Billion 900 Million Yuan &Nbsp, And 1/3 Additional Shares Were Broken Down.

With the tightening of monetary tightening policy, the demand for capital of listed companies has become increasingly strong. The scale of additional financing has reached 336 billion 856 million yuan this year, which has increased by more than 90% compared with the same period last year.

However, the weak trend of the A share market has led to a general decline in stocks, and the latest share price of the 47 additional shares has fallen below the issue price.

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Although the semi annual report of listed companies shows that the overall size of monetary funds has not dropped significantly, but with the central bank raising interest rates and raising interest rates several times, the situation of liquidity tension has become increasingly prominent.

This year, the number of refinancing schemes proposed by listed companies has increased significantly, which shows that through equity financing to ease financial pressure, many companies have chosen.

Data statistics show that this year, 131 companies have implemented the additional financing scheme, of which 124 are private placement, and 326 billion 522 million yuan is raised; 7 are public issuance, and 10 billion 333 million yuan is raised, and the two share up to 336 billion 856 million yuan.

In this year's first tier market, a prominent feature is that the scale of refinancing has risen dramatically. IPO has become the "leading character" of the financing market.

First of all, there were 98 companies offering additional issuance in the first 9 months of 2010, raising funds totaling 174 billion 96 million yuan. Compared with this year, the size of the additional issuance increased by 93.49%.

Secondly, this year, the total IPO stock of 228 new shares is 213 billion 898 million yuan, which is only 63% of the increase.

Saline Lake shares are within the year.

From the industry point of view, the enthusiasm of the chemical industry has risen sharply due to the sharp rise in the price of products. Since this year, 22 chemical companies have implemented additional issuance, raising funds totaling 103 billion 574 million yuan, and the number and size of the financiers rank the top of the industry.

Under the pressure of strict regulation and control policies, the real estate industry has undoubtedly become a "frustrated person" in the field of refinancing. Only 4 billion 706 million yuan has been raised by Jinke stock this year.

1/3, the issuance of shares fell "break"

On the one hand is the continuous enthusiasm for refinancing, on the other hand, it is the market which has fallen continuously. Under the impact of low share prices, "break" has become a common phenomenon in the issuance of shares.

Statistics show that in the 131 companies implementing the additional issuance this year, the price of the 47 companies has been lower than the original issue price and is in a state of break.

Valin Iron and steel (3.30, -0.11, -3.23%) is the largest share issuing company with the largest breaking rate. In February 24th, the company launched a private placement for major shareholders, issuing an additional price of 5.57 yuan. After a continuous callback, the latest closing price is only 3.41 yuan, with a breakup of 38.78%.

The other two public utilities (1884.772, -55.75, -2.87%) stocks - A, 10.27, -0.14, -1.34%, Datang Power Generation (4.51, -0.09, -1.96%) were also trapped in the "mire". According to the closing price in September 21st, the breakage ratios were 32.97% and 31.75% respectively.

In addition, Saline Lake share and Star Lake Technology (8.80, -0.26, -2.87%) also broke more than 30%.

In fact, compared to the private placement, public offering breaks are more common. After 7 stocks, 6 are in a state of breakage. This is mainly due to the fact that the pricing of the public offering is more closely related to the share price of the two tier market.

Changjiang Securities (8.93, -0.42, -4.49%) is the largest public offering of shares with a maximum breaking rate. In March 4th, the company issued an additional 200 million shares, issuing an additional price of 12.67 yuan, and after considering the factors of elimination, the proportion of breakage was 24.14%.

In addition, Changan motor (4.15, -0.10, -2.35%) (micro-blog), oceanic motor (17, -0.65, -3.68%) and Zhongtian Technology (19.09, -0.87, -4.36%) also broke the proportion of 15%.

Market participants pointed out that in the environment of narrowing credit scale, debt financing will undoubtedly increase the financial cost of listed companies. Therefore, the issuance of financing has become an important source of funds.

In addition, liquidity constraints constrains the expansion of investment scale. Some listed companies enhance their business strength by purchasing large shareholder assets, which further improves the scale of refinancing.

It is worth noting that many of the 131 Additional companies have large shareholders or related parties. The underlying target is equity or assets. This part of the financing will not bring pressure to expand the stock market.