On the last day of July, Guolian Securities ushered in the last stop of A-share listing.
According to the previously issued listing notice, Guolian Securities shares will be listed on the Shanghai Stock Exchange on July 31, raising a total of 2.022 billion yuan at an offering price of 4.25 yuan per share. So far, three new listed securities firms have been added to A shares in 2020, and the total number of listed securities firms has reached 39.
According to the statistics of Chinese reporters of brokerages, of the 134 securities companies currently announced by the China Securities Association, more than 90 (including brokerage subsidiaries) have loaded assets into listed companies (A shares, Hong Kong shares and new third boards) through different channels, including IPO, backdoor, mergers and acquisitions or become subsidiaries of listed companies, accounting for nearly 70 per cent.
Guolian Securities is about to list A shares.
On the evening of July 29, Guolian Securities issued an initial public offering of A-shares, saying that it would be listed on the Shanghai Stock Exchange on July 31, raising a total of 2.022 billion yuan.
The Guolian Securities IPO issued a total of 476 million new shares, excluding the transfer of old shares. Among them, 47.571 million shares were issued offline and 428 million shares were issued online, and investors gave up subscribing for 835000 shares, all of which were underwritten by Nanjing Securities, a sponsor institution, with an underwriting proportion of 0.18%.
According to the issue price of 4.25 yuan per share, the price-to-earnings ratio of Guolian Securities is 19.60 times. In fact, the price-to-earnings ratio is not high compared with the current market environment-as of July 15, the average static price-to-earnings ratio of the "capital market services" industry published by the CSI was 31.59 times.
In terms of issuance expenses, the total IPO fee of Guolian Securities A shares is 83.7212 million yuan, with an average issue fee of 0.18 yuan per share, of which the underwriting fee reached 70.8679 million yuan, accounting for 84.65 percent. Overall, the net amount of funds raised by Guolian Securities in this offering is actually 1.938 billion yuan.
After the end of this public offering, the number of A-share shareholders before listing is 416200.
It can be seen that even if the IPO issue makes the proportion of major shareholders diluted, Guolian Group, the controlling shareholder of Guolian Securities, still controls more than half of Guolian Securities directly or indirectly (Guolian Trust, Guolian Electric Power, Minsheng Investment, Yimian Textile and Huaguang shares), and the controlling position is still stable.
Speaking of strategic development goals, Guolian Securities said that in the future, it will continue to enhance its brand image and market influence, strive to enter the upper-middle level of the industry with comprehensive strength, further optimize its business structure, and continuously enhance its risk control ability. to become a high-quality medium-and large-scale securities firm with strong profitability and its own characteristics.
To this end, Guolian Securities will implement the strategy of location advantages, focus on strengthening the construction of branches, increase the investment of resources, steadily promote transformation and development, actively improve the product line and strive to create superior business, build a "Amusement" double financing platform to carry out all kinds of capital operation, actively explore the innovation of management mechanism, improve comprehensive efficiency, strengthen the construction of talent team, and establish a people-oriented corporate culture.
The capital of securities firms operated frequently during the year.
Although the difficult model has been opened from the very beginning in 2020, the capital operation of securities companies has not stopped, and the capital road of many brokerages is going further.
From the smooth IPO listing of Bank of China Securities in February, which got off to a good start in the new year; Zhongtai Securities was listed in early June; now Guolian Securities is about to list A shares smoothly, and there is another listed securities firm. In 2020, three securities firms have successfully entered the ranks of A-share listed securities firms through IPO.
At the same time, confidence Electric successfully changed its name to "National Network British University" through mergers and acquisitions in May this year. As a result, Yingda Securities also achieved curve listing and received a capital increase of 2.2 billion yuan (matching funds raised by this merger and reorganization).
Similarly, Harbin Hi-Tech also announced on Monday that it planned to change its Chinese name to "Xiangcai Co., Ltd." and its English name to "XIANGCAI CO." , LTD ". It is reported that the matter has been pre-approved by the market supervision and management department for the change of the enterprise name, which needs to be submitted to the general meeting of the company for consideration and approval, and apply to the relevant departments for registration of the change.
According to public information, Harbin Hi-Tech has now completed the issue of shares to purchase Xiangcai Securities shares, and now holds 99.7273% of Xiangcai Securities shares. Xiangcai Securities business income and asset scale account for more than 70% of the overall business income and asset scale, and are mainly engaged in the transformation of financial services.
In addition, China International Capital Corporation's A-share return plan also ushered in new progress a few days ago. China International Capital Corporation announced on July 20 that in order to "seize the opportunities for the development of the industry, meet the needs of the rapid development of the group's business and better serve customers", it planned to expand no more than 459 million shares to no more than 1.438 billion shares (a nearly three-fold increase). The share capital ratio increased from 9.5% to 24.77%.
In fact, such a large increase in issuance is rare in past IPO cases, and it is even more rare for IPOs to exceed 10% or even close to 25%. According to the latest closing price of China International Capital Corporation's Hong Kong shares of HK $18.28, it is estimated that the fund-raising scale of China International Capital Corporation's IPO will reach 23.75 billion yuan. Taking into account the widespread premium of A / H shares, China International Capital Corporation's A-share IPO fund-raising is likely to exceed 30 billion yuan.
70% of securities firms realize securitization in "fancy"
Although at present, the number of A-share listed securities firms is only 39 (including Guolian Securities), more securities firms have already achieved the goal of securitization through assets loading into listed companies, H-share listing, new third board listing and so on.
According to the statistics of Chinese reporters of securities firms, of the 134 securities companies currently announced by the China Securities Association, more than 90 (including brokerage subsidiaries) have loaded their assets into listed companies (A shares, Hong Kong shares, and the new third board) through different channels, including IPO, backdoor listing, mergers and acquisitions or becoming subsidiaries of listed companies, accounting for nearly 70%.
Specifically, there are 39 A-share listed companies, of which IPO is still the most mainstream way, with a total of 29 (including 48 subsidiaries); 8 securities companies such as Cheung Kong Securities (including 13 subsidiaries) are listed through backdoor listing, and 2 Shenwan Hongyuan and 2 Pacific companies (including 4 subsidiaries) landed A-shares through special approval in that year.
At the same time, it has become the assets of listed companies through mergers and acquisitions, which is also a kind of curve listing method favored by securities companies. So far, 15 securities firms (including 18 subsidiaries) have landed in the capital market through curve listing. For example, the aforementioned projects of Xiangcai Securities through Harbin Hi-Tech and Yingda Securities are all recent curvilinear listing cases.
In addition, China International Capital Corporation, Hengtai Securities two securities companies have achieved H-share listing, and China International Capital Corporation is seeking A-share IPO, Hengtai Securities will be merged with Tianfeng Securities to return to A-share. In the new third board, Donghai Securities, Guodu Securities and Yuekai Securities are still listed for trading in the new third board market.
According to statistics, in addition to Guolian Securities and Zhongtai Securities, which have received approval documents for issuance, there are two brokerages, including Caida Securities and Wanlian Securities, whose IPO applications are in a state of feedback; nine brokerages, including Huajin Securities and Guokai Securities, are in a state of counseling and registration; and Dongguan Securities's IPO application is temporarily suspended.