Next Week, 4 New Shares Will Focus On New Shares.

< p > despite the fact that the price earnings ratio of IPO has basically taken stock of the valuation of mergers and acquisitions, most companies are still unwilling to choose to be merged.

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< p > generally speaking, it takes at least 3 years for a sponsor to accept a listing project from admission to listing. Some projects even have to wait for 5 years. During this period, the sponsor needs to pay a large amount of < a href= "http:// www.91se91.com/news/index_c.asp" > cost < / a > to maintain the expenses of the members of the project group, and the profit comes from the successful listing of the enterprises.

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Prior to P, the "three high" problem, which was widely criticized by the market, is rooted in the interest community of issuers and sponsors.

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< p > a company in 2012 completed the < a href= "http:// www.91se91.com/news/index_c.asp" > < /a > a href= "http:// www.91se91.com/news/index_c.asp" > gem < /a > Company Secretaries gave an example to reporters. The sponsor had recommended to the chairman of the company to raise substantially the amount of raising funds. The reason behind this is that the income of sponsoring agencies is linked to the amount of funds raised by sponsoring projects, the more funds raised, the more fees the sponsors receive, which is also an important reason for the original excessive raise.

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"P >" the price earnings ratio is so high. To increase the amount of fund-raising, it is necessary to improve the performance of the company, which is difficult to maintain after the company is listed. "

The above secretaries analyzed the reasons for the performance of some new listings.

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< p > to this end, the SFC's direct killing of the IPO on this year's issue is to abolish the over raised capital. At the same time, if the IPO price earnings ratio is higher than that of China Securities Index Co's industry average price earnings ratio, the new shares will be postponed for three weeks and will indicate risks.

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< p > from the perspective of the listing process of the five major banks, Goldman Sachs listed Goldman Sachs as a strategic investor, and the Bank of China introduced the Bank of America. The Bank of China introduced UBS and Royal Bank of Scotland, and the bank introduced HSBC.

10 years later, in addition to HSBC's 19% stake in Bank of communications, the remaining strategic investors have basically been cleared.

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In 2010, the last Listed Agricultural Bank in the four major banks of P went to the market before introducing the national social security fund, but did not introduce foreign strategic investors.

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Li Yizong, a professor at Peking University Guanghua School of management, told reporters that for the postal savings bank, it is not the best choice to introduce strategic investors such as Goldman Sachs and Citigroup. We should consider what strategic investors should be introduced from the perspective of their own competitive advantages, future development and business expansion, so that we can bring P, market and financial help to us.

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< p > there are still large variations in the choice of listing sites.

"First of all, the choice of H-share listing is of great help to the reputation, popularity, pparency and internationalization of postal savings banks.

However, the consolidation and preparation of large banks before listing may take years. When A shares are better, A+H can also be listed as a whole.

Li Yizong said.

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