Golden Emperor shares: the first day of restricted shares borrowed and sold 2200 million yuan, 63% of the stock price attracted attention.
On January 28, China's ** Supervision and Administration Commission issued a major measure to prohibit the issuance of **, which was considered good news by many people, but the next day, the stock index began to **, and the GEM also ** 2 percent, hitting a record high.
What is the impact of equity pledge on ***? The result? Looking at the Golden Emperor shares, from the first day, they lent their own **, and it can be seen from their *** that the Golden Emperor shares were in Shanghai on September 1 this year with 2177 yuan **listing, the first day ** is 399 yuan, and even reached 61 yuan at the highest, which is almost three times that of its **.
However, since the listing of Jindi shares, ** has been declining, and the ** of the last day has dropped to 2266 yuan a share, compared with the first day's **, the decline reached 63%, which can be said to be miserable.
Why do borrowing restrictions have a greater impact on ***? What about the losses of small and medium-sized investors, in particular? This is why issuers and intermediary companies will have the incentive to raise the price of **, and to speculate on the first day of listing, rather than lending new shares to others, so that the value of ** will be suppressed by the unexpected air force, and then buy ** back when ** falls.
The process is like doubling the profits, making one when the valuation is high, and another one when selling short, and for a few people, the profit will increase significantly, which is a win-win situation.
Jindi shares did 4.58 million shares on the first day, and the balance of securities lending was 26.6 billion, with a financing balance of 44.33 million, that is, 220 million.
So where did the first day of financing come from? At a press conference held on September 19 this year, the relevant person of the China Securities Regulatory Commission said that the management and main personnel of Jindi shares participated in the strategic placement, and on the first day they financed it to the ** company through an asset management plan, and then traded it to 13 ** companies, 124 investors (including 35 individual investors, 89 private placements) sold from 13 ** companies in accordance with regulations.
As a result, there was a new financing channel on the first day of the IPO of Jindi shares, which was in line with the regulations, and the Shenzhen Stock Exchange also issued regulations on the refinancing of the restricted shares it held on February 17 this year. And the holders of these shares are the company's top management and core personnel, so they will want to sell their shares so that they can make more money.
Golden Emperor shares in the network after the turmoil, its borrowing amount has also been greatly affected, from September 26, the credit limit has been sharply reduced, to September 28, margin financing has been close to zero.
However, the lending** still made the** a short panic, during this time, **there were several price limits, all because there were funds to try to suppress the shorts and shorts, but in the end, **continued to go down, in the eyes of individual investors, **from the high point of 61 yuan all the way** to the current more than 20 yuan, the loss of more than 60%, many people are in a high position, I don't know how to wait until the year of the monkey to untie it.
However, these will not have much impact on the company, because the funds they raised have not decreased, and their IPO has reached more than 40 times, and even if it returns to the issue price, it has a market value of more than 40 times, far exceeding the industry average and leading companies.
As a strategic investor, through the issuance of restricted shares, it also made huge profits, and individual investors became the only victims. Therefore, small shareholders will be unhappy with borrowing new shares, which is an unfair and a kind of behavior, because there is no need for listed companies to announce to the outside world, ordinary individual investors will not know at all.