Private Equity And Industrial Capital Carry Out Low-Key Placards For Listed Companies.

When the risk capital raised the listed company, private placement and industrial capital also played a low key role in the listing of listed companies.

The surface is calm as water, but the undercurrent surges.

Unlike the recent brand of venture capital, private placement has different characteristics.

Reporters also noted that many private equity companies listed on the cards have small market capitalization, decentralization, restructuring expectations or related to the theme of reform of state-owned enterprises and so on.

In fact, in this year's listed companies, the number of cards raised by venture capital leaders is about 10%, and the rest are private placement, industrial capital and financial companies.

Different from the risk capital raising placards, the placards of private equity and industrial capital are stealthy in a low profile. Many even because of the announcement of the placards, compared with venture capital, the fever of concern is much smaller.

Moreover, the placards of private placement, the nature of funds and the particularities of participation have their own particularity.

"Venture capital raising cards are all the leading industries or industries. Many listed companies that raise private equity cards are generally poor in performance or more in terms of the value of the shell rather than the business level."

A private chief executive in Shanghai told reporters that a major way of private placement is to get the company's controlling stake or part of its controlling stake, and then, by injecting resources into the company, the stock price will rise and then withdraw.

China and Thailand are the enterprises of Zhongzhi county. The new placards, Kang Xin, show the capital's positive value for the company's connotation.

It also represents another piece of chess in the capital market.

As early as May this year, the Silk Road became the largest shareholder of the listed companies in the Meyer announcement.

Rough statistics show that as of the end of the three quarter of this year, the number of private equity holding companies and the proportion of more than 5% companies has more than 30, this number is also more than the current number of risk cards.

In recent days, the listed companies have been listed as private companies, such as Lai Lai Jiayu, the Yongan international pharmaceutical company, and the Tibet investment company in Boxing.

"In choosing

At the time of the bid, the practice of private placement is to choose some dishes that are in the middle.

Some private-equity companies will be able to withdraw after consulting with listed companies to gain assets after obtaining part of their controlling interest.

The above Shanghai private manager said.

Guo Jin securities analyst Li Lifeng also believes that

Investing in placards tends to be dispersed in small cap companies, which is conducive to obtaining the right to speak through a small amount of funds, and further completing the intention to inject their own project resources into listed companies.

An example is that the new value led by Luo Weiguang has been marching into the medical service industry through the acquisition and merger. After the end of February this year, the listed company announced the acquisition of the 49% stake in Shenzhen's Medical Products Co., Ltd.

Analysts pointed out that such mergers and acquisitions in the two market trading at the same time, in the one or two market linkage to earn price difference is not uncommon.

Private placement also does not deny the value of shell value.

Luo Weiguang has also indicated that the logic of its placards is listed companies with small market capitalization and restructuring expectations, and even get the controlling rights, and then carry out M & A operations to achieve equity appreciation.

Shanghai Bao Yin Chuang Ying's practice is to sell the company's actual control power on many occasions, and propose "setting up a private equity fund management company", "buying a small insurance company through capital operation", "buying a private equity fund and raising public fund network sales platform", and removing senior executives.

In addition, this newspaper also learned that some industrial capital went to the placards by buying the products of private companies, which is also a way of raising prices.

Also keen on playing cards, but the outcome is totally different.

By raising shares of A shares, Guangdong's new value investment has attracted the champion of private placement in August this year. As a result of the placards, "Xintai electric" has made the two annual private champion champion.

In March and April of this year, Chuang Xiang Hao threw more than 2 billion cards, "shell shares" Xin Tai electric, the proportion reached 10%, and promoted to the second largest shareholder of the company.

But Xintai Electric has many problems, such as financial fraud and fraud listing.

Chuang Cheung hopes that the scrambled shell will eventually prove to be a chill in the fire. Because Xintai Electric is facing a delisting, it will suffer huge losses.

But when the market is bad, it is often possible to get a lot of money by raising the price of cards. This is why many private equity companies are willing to fight.

Among the top ten private equity products in the first three quarters of this year, there were many fund raising companies. Among them, Zhuo Tai sun's placards 1 and sun 1 were 61% and 60% respectively, ranking fifth and sixth respectively. The previous promotion of the Yongan pharmaceutical company's 49% yuan was 49%.

Public information shows that Luo Weiguang has 3 products playing the main placards, "sunshine placards 1", "sunshine placards 2" and "sunshine placards 3" by holding placards holding 7 stocks.

However, whether the private placement mode can last long has also drawn some market participants' questions.

"After all, the advantage of private placement lies in the research and development of the two tier market. When it comes to the first tier market and the one or two level market linkage, there may be other inability to complete the injection.

For example, holding part of the controlling interest of the listed company, the listed company also agreed to purchase, but when you buy overseas assets, you will encounter legal supervision and other circumstances. When you purchase the private equity funds or the duration of 3+2, private equity funds are too long, the products will be redeemed.

Above Hushang

The boss said.

However, some listed companies do not exclude cooperation with private capital and other industrial capital.

On the one hand, the introduction of high-quality assets to promote major asset restructuring and then achieve the rise in stock prices, are all very happy; in addition, for large shareholders holding a relatively low proportion of listed companies, large shareholders through cooperation with external agencies to set up a placards fund can resist hostile takeover.

"Insurance funds are derived from the universal insurance products of insurance customers, which are more pparent, while private equity products may have unclear source of funds and leverage. These funds are not as stable and sustainable as insurance.

Usually, a private equity company will have a normal redemption of a listed company, and the time limit for its payment is not very long.

Fan Jihao, chief investment officer of Guangdong Lida Asset Management Co., Ltd., told reporters.

Minsheng Securities believes that the nature of private placement and financial investment and short-term speculation, the growth potential of the company and the growth potential of the company's stock price are not necessarily required to raise profits to 20%, and the demand for decentralization of shares is more relaxed.

It holds that there are several screening criteria for the rule of private placement. First, profits have been growing for three consecutive years; secondly, the market value is below 100 billion; again, PE is above 25 (preference growth stocks); finally, the former ten largest shareholders are below 90%.

"First class dinner, two pay.

First, in the primary market, the stock price will be increased through a certain controlling interest, through mergers and acquisitions or other capital operations.

Private placement of cards.

There has been a sharp rise and will definitely withdraw. "

Fan Jihao further said.

And the private sector and other institutions have become an important promoter of stock price continued to rise. However, the adjustment of A shares is often greater in the case of regulatory factors.

In December 3rd, the chairman of the securities and Futures Commission made a leveraged buyout of improper funds. He denounced the barbaric placards as a challenge to the bottom line of the national financial laws and regulations. Such a rare and severe supervisor has publicly denounced and warned some of the recent barbaric placards of venture capital, and also led the leading stocks.

Statistics show that in the past week, the brand concept shares fell 1.06%, of which Chinese Architecture (601668.SH) fell by 10.4%.

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