①Institutional investment bankers believe that the shareholding method of inquiry and transfer is an innovation in the design of the Star Market at that time, which can serve as a way to ease the impact of shareholding reduction. ② Private analysts believe that the company's position in the electronic components sector has seen a greater increase in value from the beginning of the year compared to Feiwo Tai's share price increase during the same period. With the company's stock price at a relatively low point, offering discounted inquiry and transfer of shares is considered relatively objective and reasonable.
On December 4, the Feiwo Tai Daily (Reporter Wu Xuguang) reported that after Feiwo Tai released an announcement of inquiry and transfer of shares on the evening of December 3, the pricing of the transfer was announced post-market today (December 4), just one trading day after.
Feiwo Tai's announcement stated that based on the inquiry and subscription situation on December 4, 2024, after inquiring with institutional investors, the preliminary transfer price for Feiwo Tai's shareholder inquiry and transfer (referred to as this 'inquiry and transfer') was determined to be 14.01 yuan per share, which is 85.32% of the closing price of 16.42 yuan per share on the pricing date of Feiwo Tai's inquiry and transfer on December 4, 2024.
Regarding the fluctuation of the company's stock price after the announcement of the inquiry and transfer, today (December 4), a reporter from the Star Market Daily called Feiwo Tai's securities department, but as of the time of publication, no relevant response has been received.
According to multiple interviews conducted by reporters from the Star Market Daily, inquiry and transfer, as a form of shareholding reduction by listed company shareholders, is intended to minimize the impact on the secondary market as much as possible.
Some institutional investment bankers believe that the shareholding method of inquiry and transfer was an innovation in the design of the Star Market at that time, which can serve as a way to ease the impact of shareholding reduction.
Jufeng Investment's Chief Investment Advisor Zhang Cuixia expressed to reporters from the Star Market Daily that as a nanotechnology new materials company, from Feiwo Tai's inquiry and transfer price of 14.01 yuan per share, the stock price is relatively low. "Because the electronic components sector the company is in has increased by 14.60% since the beginning of the year, nearly 20 percentage points higher than Feiwo Tai's share price increase during the same period. Therefore, with the company's stock price at a relatively low point, offering discounted inquiry and transfer of shares is considered relatively objective and reasonable."
It is understood that the price of inquiry and transfer is usually not lower than 70% of the average stock trading price 20 trading days before the invitation to subscribe is sent. Among other shareholding reduction methods, the trading price for block trades is not lower than 80% of the previous trading day's closing price; for agreement transfers, it is not lower than 80% of the closing price on the agreement signing date; and for concentrated bid reductions, the price is determined based on the market's stock price trends.
According to the preliminary determination of the transferee for this inquiry transfer plan, there are 8 institutional investors, and the number of shares transferred in this inquiry is 3.4194 million shares, accounting for 1.02% of the total share capital, with the transfer reason being their own capital needs.
The shareholders intending to participate in the pre-IPO equity transfer of Feivotai (referred to as the 'current inquiry transfer') are Wuxi Feina Enterprise Management Partnership Enterprise (Limited Partnership) and Wuxi Natai Enterprise Management Partnership Enterprise (Limited Partnership) (referred to as the 'transferor').
As of the closing on December 3, 2024, Wuxi Feina Enterprise Management Partnership Enterprise (Limited Partnership) holds 16.0368 million shares, accounting for 4.78%; Wuxi Natai Enterprise Management Partnership Enterprise (Limited Partnership) holds 2.5008 million shares, accounting for 0.75%.
The transferors have entrusted China International Financial Co., Ltd. to organize and implement this inquiry transfer.
This inquiry transfer is not conducted through centralized auction trading or block trading, and does not involve secondary market shareholding reduction.
Feivotai stated that this inquiry transfer does not involve changes of control in the company, and there is no situation affecting the company's governance structure and ongoing operation.
Feivotai is mainly engaged in the research and preparation of high-performance, multi-functional nanometer thin films. The company was listed on the Science and Technology Innovation Board on August 2, 2022. On the 9th trading day of Feivotai's listing, which was August 12, the highest intraday price reached 40.35 yuan, the highest price since listing, followed by fluctuations and declines in the stock price.
As of the closing on December 14th, Feivotai's stock price closed at 16.42 yuan/share, a decrease of 3.86%, with the company's total market value at 5.508 billion yuan.