The A Share Market Is Deeply Branded As A "Barbarian".

At the recent fund industry conference, the "barbarian" acquisition became the most concerned topic of the conference.

This topic is a cause for concern, of course, this year, A share listed companies frequently encounter "barbarian" patronage.

From the "Wanbao dispute" at the beginning of the year to the recent resignation of A executives in southern China, this year's A share market has deeply branded "barbarians".

It is no wonder that a number of A share listed companies have heard of insurance funds raising their cards and changing colors.

As GREE electric appliances have not even met with venture capital cards, Dong Mingzhu's heart has mentioned his voice.

Under the background of "asset shortage", insurance funds that lack quality assets to invest and frequently raise placards on the A share market are beyond reproach.

When insurance funds are optimistic about the investment value of a listed company, it is understandable to put a large amount of capital into the company.

But whether or not to act as a "barbarian" is questionable.

After all, there are not many excellent companies in A share listed companies.

Such companies are becoming the targets of venture capital investment because they are excellent.

If venture capital relies on its own financial strength to act as a "barbarian", it is necessary to reorganize the board of directors of listed companies, or even "top of the board" of executives of listed companies, and send executives into the company by themselves. This will not guarantee the repetition of the story of Shanghai Jahwa and pform a high-quality company into a company with a sharp decline in performance.

This practice is not only responsible for the listed companies, but also irresponsible to investors. At the same time, it is not responsible for China's stock market.

Therefore, some quality companies like Erie stock and GREE electric have heard of risk raising or raising their stock, which is expected.

Of course, although this "barbarian" acquisition is not worth advocating, as long as the acquisition process is not illegal, including sources of acquisition funds also comply with the requirements of laws and regulations, then such a takeover behavior is still protected by law.

Therefore, in order to prevent this kind of "barbarian" acquisition, as a supervisory department or a competent department, it is necessary to work out a sound management system to make barbarians as good children as possible.

Especially at present.

On the barbarian purchase, the role of "barbarian" is mostly played by insurance funds, which makes it more necessary for the CIRC to regulate the investment behavior of insurance funds from the perspective of industry management.

However, this is only one aspect of the "barbarian" acquisition problem.

On the other hand, a listed company as a takeover target also needs to have the necessary defensive measures to deal with the "barbarian" acquisition.

This is undoubtedly the most prominent problem in the acquisition process of barbarians.

That is to face "

Takeover, listed companies are almost helpless.

In the face of "barbarian" acquiring company shares, there are few defensive measures for listed companies.

Listed companies can only watch the "savages" step by step to invade the listed companies.

It is also for this reason that in the face of risk capital raising, or in the face of the increase in risk assets, the listed companies can not help but turn pale.

Therefore, in the face of "barbarian" acquisition, it is important to give the listed companies the ability to defend the system.

"Barbarian" acquisition, as long as it meets the requirements of laws and regulations, it is understandable.

As laws and regulations, it should also give the listed companies the defensive measures to deal with the "barbarian" acquisition.

It does not give the listed companies defensive means to make the listed companies in a situation of passive beating when facing the "barbarian" acquisition, which is obviously unfair to the listed companies.

As for listed companies, it is currently in such an unfair situation.

For example, in the face of Bao's Department's placards, Vanke intends to buy Shenzhen subway to compete with it, but such a motion vote still deserves the support of Bao's system, which is obviously in pursuit of the tiger.

Under such circumstances, the efforts of listed companies are in vain.

This is also a manifestation of the lack of defensive measures by listed companies.

Reform of shareholders' meeting

A vote on measures to prevent "barbarian" takeover by listed companies may not be included in the statistical scope of the "barbarian" vote.

For example, if the board of directors of a listed company is authorized to raise the price of a "barbarian", the board of directors of a listed company shall be responsible for the implementation of the private placement plan based on the need to resist the purchase of barbarians.

Or to authorize the board of directors of listed companies to open a "poison pill plan" based on the need to resist the purchase of barbarians, and to sell shares to other shareholders in addition to "barbarians" in order to dilute the proportion of "barbarian" holdings.

With such corresponding defensive measures, the listed companies will no longer turn pale in the face of the barbarian acquisition.

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