Shangchai shares again ** successful plan adjustment or seeking help

The re-financing of private placement of Shanghai Shichai Co., Ltd. has finally been completed recently. It is understood that since the first plan was announced in March 2011, it has been over a year. According to the analysis, the company's current issuance is not smooth, and many of them have adjusted the issuance plan, plus the listed company's help in ordering the shares to purchase.

The Shanghai Shichai Co., Ltd. announced the results of the non-public offering of refinancing a few days ago. According to the announcement, the final non-public issuance of 6287.35 million shares received refinancing of 846 million yuan.

In this regard, some market analysts believe that the re-financing of Shanghai Shichai Co., Ltd.'s non-public offering is not smooth. The analyst said: "This refinancing can be described as an embarrassment. After adjusting for the issuance plan, the amount raised has not yet reached the expected amount."

In fact, the expected amount of this refinancing of Shanghai Shichai is RMB 1 billion. According to statistics, the date for the first refinancing proposal was announced on March 2, 2011. The plan is to issue 70 million shares and the total amount of funds to be raised is one billion yuan. Determine the issue price of 14.8 yuan / share, pricing basis for the day announced plans.

However, less than half a year after the first preplan was announced, the board of directors of Shanghai Diesel International made a decision to adjust the non-public offering plan. On August 29, 2011, the board of directors of Shanghai Diesel International decided to adjust the non-public offering plan to increase the number of shares to be issued by 5 million shares to 75 million shares. At the same time, the pricing base date changed to August 30 of that year, resulting in a decrease in the issue price. To 13.46 yuan / share. Regarding the adjustment of the issuance plan, the explanation given by the Shangchai shares bluntly was due to the actual situation of the domestic A-shares. According to statistics, the Shanghai Composite Index fell by 11.92% during the period of the first plan and adjustment program, while the share price of Shangchai fell from a position of 17 yuan to a position of about 14 yuan, a decrease of 16.91%.

"The market has changed, and the stock price of the company has fallen seriously, and it will certainly affect the willingness of non-public issuance objects to subscribe. If you do not make adjustments, you may not rule out the possibility of failure of the refinancing plan," the analyst explained.

It is worth noting that, in addition to adjustments to the scheme, a number of listed companies are also indispensable factors in the success of their issuance. According to the statistics, SAIC Motor’s controlling shareholder SAIC Group subscribed for 29.54% of the shares issued. In addition, Weifu Hi-Tech also subscribed for the 14.8 million shares issued this time. In response, the above-mentioned analysts said: "If SAIC Group, as a major shareholder of Shangchai, is still in need of help, Weifu Hi-Tech's assistance can help explain the difficulties of this non-public issuance. Business is not excluded. Exchanges, but unfortunately they may subscribe to the rescue."