China And Thailand Securities Re Launch A Number Of Regional Securities Dealers Will Visit A Shares

More than a month later, Zhongtai securities came to the trial conference again.

According to the China Securities Regulatory Commission's official website, China Thailand securities will be accepted by the issuance examination committee in December 19th.

Earlier, China Thailand securities was originally scheduled for the November 7th meeting, but was canceled at the same time. Insiders said that China and Thailand securities were cancelled at the meeting or because the SFC received a report, which was postponed according to the process. Now, Zhongtai securities will go to the meeting again, which means that the report has been verified.

In fact, as early as March 22, 2016, China and Thailand securities disclosed the prospectus for the first time, but since then, IPO has suffered twists and turns.

Since 2016, 13 brokerages have been listed on A shares, accounting for 36.11% of the 36 listed companies in the A share market.

In recent years, the merger of coupon industry has been reappearing. For the securities companies, the demand for supplementary capital is increasingly urgent under fierce competition. In twenty-first Century, combing reporters found that there are still dozens of brokerages waiting for landing in the capital market. In addition to IPO, mergers and acquisitions, and the listing of other routes are also options.

IPO road twists and turns

China and Thailand securities, formerly known as Qilu Securities, although not yet listed, China and Thailand securities in the industry volume is not small.

In the 2018 annual ranking of securities companies released by the Securities Association, China and Thailand securities ranked sixteenth of the 98 brokerages in the country with a total assets of 117 billion 534 million yuan, ranking sixteenth in business income and fourteenth in net profit.

According to the results of the classified evaluation of securities companies issued by the SFC in August, China Thai securities was rated a Class A, which was higher than that of B class BBB in 2018, which was raised by level one.

Total assets in 2018, before its 15 brokerages, in addition to CICC listed in Hong Kong, Ping An Securities did not separate the listing, other brokerages have been listed on the A shares.

In fact, as early as March 22, 2016, China Thailand securities disclosed the prospectus for the first time.

Since 2016, 13 brokerages have been listed on A shares, accounting for 36.11% of the 36 listed companies in the A share market.

But the IPO of Zhongtai securities is twists and turns.

Over the past three years, China and Thailand securities have received many regulatory fines for the new three board business. In May 17th this year, it was finally announced that it had been updated. But shortly after that, a large number of people who claimed to have purchased 550 million yuan private equity products at Zhongtai securities company reported publicly that they had suffered a substantial loss due to the product's default crisis and demanded that China and Thailand securities take the lead.

China and Thailand securities were also abolished when the meeting came to an end.

On the evening of November 6th, the official website of the SFC issued a notice that, in view of the need for further verification of the relevant issues of Limited by Share Ltd, China and Thailand, it decided to cancel the examination of the issuance of the declaration documents by the 168th issuance examination committee meeting of the eighteenth issuance examination committee in 2019.

Insiders said that China and Thailand securities were cancelled at the meeting or because the SFC received a report, which was postponed according to the process. Now, Zhongtai securities will go to the meeting again, which means that the report has been verified.

What can be seen is that Sino Thai securities urgently need to replenish capital to quench thirst.

The prospectus shows that in the 2016-2018 years, the bonds payable by Zhongtai securities were 19 billion 738 million, 37 billion 353 million and 37 billion 212 million respectively, of which about 20 billion of the bonds were due in the second half of 2019 and 2020.

According to the prospectus, the number of shares issued by China and Thailand securities is no more than 2 billion 90 million shares, accounting for no more than 25% of the total share capital issued. The issuance proceeds will be used to replenish capital after deducting the issuance cost, increase working capital and develop the main business.

Dozens of brokerage firms

Through the initial public offering, raising capital, replenishing the company's working capital and expanding the scale of business have become an important way for securities companies to raise funds through raising funds.

In recent years, regional brokerages have been sprinting capital markets, and many local brokerages such as Hongta securities have been listed or are going to be listed. Apart from brokerages, small and medium-sized banks are also actively listing.

"For financial institutions, the expansion of capital and access to more convenient capital expansion platform for their own development is of great significance. Financial institutions, capital directly determines the scale, the development of various businesses should be supported by capital. To put it simply, the leverage ratio of financial institutions requires capital increase, which means that loans can be multiplied and the scale will expand rapidly. Listing provides a platform for facilitating financing. " Wang Jiyue, a senior investment bank, pointed out to the economic report reporters on twenty-first Century December 16.

Reporters combed found that there are 5 brokerages in the IPO queue. Bank of China International Securities has just passed the meeting, Sino Thai securities will be held in December 19th, the League of nations securities has been pre disclosure updates, Wan Lian securities has been feedback, Dongguan securities is in the state of suspension review.

According to the "basic information table of initial public offerings issued by SME Board of Shenzhen Stock Exchange" issued by the SFC's official website, as of December 12th, the Dongguan securities IPO, which was accepted in June 18, 2015, remained at the stage of "pre disclosure renewal", with remarks "suspension of review".

In May 2, 2017, 000712.SZ announced that in view of the possible impact of the company's alleged bribery on the initial public offering and listing of Dongguan securities, the Dongguan securities company, which shares the shares, submitted the application for suspension of the review to the SFC recently and obtained the consent of the regulatory authorities.

Two years later, Dongguan securities's IPO road is still suspended.

According to Wind data, in addition to 5 IPO queuing brokerages, as of December 16th, there are 8 brokerages such as state securities, state securities, Hualong securities, Hengtai securities, finance securities, Xiangcai securities, Bohai securities and debbond securities.

As a state-owned securities company under the state owned assets supervision and Administration Commission of Tianjin, Bohai securities is now the only securities company not listed in the securities company directly under the municipality directly under the central government. In twenty-first Century, the economic report learned that Bohai securities is promoting IPO.

Hengtai securities wants to sell "Tianfeng securities". On the evening of June 17th, 601162.SH announced that it would take 5.76 yuan per share, and the total price would not exceed 4 billion 500 million yuan to acquire 780 million domestic stocks of Hengtai securities, accounting for 29.99% of its issued shares. If the stock acquisition is successful, Tianfeng securities will become a major shareholder of Hengtai securities.

In February 16, 2017, Xiangcai securities started IPO. According to the latest information, Xiangcai securities will be listed on the 600095.SH curve. In the evening of June 18th, hgako announced that HARCO was planning to issue shares to Xiangcai securities held by new lake holdings, and raise matching funds at the same time. Zhejiang new lake group Limited by Share Ltd's HKG control shareholder, at the same time is the controlling shareholder of new lake holdings, the new lake holding department is the controlling shareholder of Xiangcai securities, the transaction constitutes a related transaction.