About private placement! Someone who understands comes in! 100

1.The administrative measures for the issuance of ** by listed companies clearly stipulate that the conditions for additional issuance shall be met in addition to the general provisions of the issuance, and the following conditions must also be met:

1) The weighted average return on equity for the last three fiscal years shall not be less than 6% on average. The lower of the net profit after deducting non-recurring gains and losses compared with the net profit before deduction is used as the basis for calculating the weighted average return on equity;

2) Except for financial enterprises, there are no financial investments such as trading financial assets with a large amount of holdings and financial assets that can be used at the end of the most recent period, lending money to others, and entrusting wealth management;

3) The issuance of ** shall not be lower than the average price of the company in the 20 trading days before the announcement of the letter of intent or the average price of the previous trading day.

From the above conditions, it can be seen that the additional issuance of listed companies still requires the company's fundamentals to meet certain conditions. It's not just any loss-making company that can just issue more. Therefore, generally speaking, those that can be approved by the CSRC for additional issuance are good news.

2.There will generally be a restricted period after the additional issuance. The specific time can be seen in the announcement of the additional issuance of listed companies, which will clearly tell you that the additional issuance within the specified period is not allowed to circulate and be listed, which is also to protect the interests of small and medium-sized investors for a period of time.

3.From the above additional issuance conditions, the issuance should not be lower than the average price of the company in the first 20 trading days of the announcement of the letter of intent or the average price of the previous trading day, that is to say, the ** that institutional investors are willing to accept will not be very low, and it will not be very disconnected from the display. That also shows that institutional investors are more optimistic about this company and optimistic about this**.

It is believed that there will still be a relatively large upside in the future. Therefore, small and medium-sized investors will generally agree with this**. Therefore, it will be ** after the additional issuance.

4.Whether the additional issuance will put pressure on the additional issuance after the restriction is lifted. It is to be analyzed on a case-by-case basis.

For example, the institutional investors who took these additional issuances found that the current ** has been much higher than the ** they bought before**. And the company's fundamentals can't support such a **. Then they may ruthlessly abandon this ** vote, thus exerting downward pressure on the ** **.

Another example is that they think that the market is better now, and their costs are relatively low. Willing to wait a little longer and wait until the higher ** before selling. There was even an announcement that he was willing to extend the holding time.

Then it may turn into good news and generate an upward momentum for ** of **.

If the landlord is interested, you can check the relevant regulations.

Directional issuance is not something you can send if you want, nor is it as much as you want, let alone as many as you want.

I remember that there seems to be a rule that it is not allowed to be lower than the current price, you can check it, it seems that according to this regulation, 10 yuan of shares should not be issued for 6 yuan. Generally it is a directional hair, which is a major benefit, and then it rises, for example, today's Sichuan Hushan, you can see his additional issuance**, he is calculated according to the stock price when you want to issue more, and it is not allowed to be lower than a certain ratio. It seems to be 90%.

From a fundamental point of view, private placement is a good thing, often used in mergers and acquisitions of assets, etc., but generally in advance a small scatter is not known, often some inside information institutions eat in advance, and then the news out of a few days and then slowly escape, this kind of stock, generally in the first time when the issuance, you can't catch up, want to speculate then every day to hang the limit order, can only be bought on the day of a large number of transactions, at that time, the risk is very large, some stocks release a large number of transactions, a wave is over, some shares after the release of volume, It can go up for two more days, in the end whether to buy it on that day or not, I think it's best for you to stare at the handicap and see the action of the main funds before making a decision, if the main funds flee sharply, then of course you can't follow.

If the private placement is much lower than the stock price of the secondary market (for example, the private placement price is 6 yuan, the current price is 10 yuan), then the pressure on the secondary market is great, once the additional part of the shares are listed, the stock price of the secondary market is a big blow. Today's private placement of 002012 Kane shares is a good example. Only the additional issuance is relatively close to the secondary market, indicating that the institutions participating in the additional issuance are really optimistic about the stock, so he has no doubts.

Not necessarily! If the company is good, there will be funds in the speculation, and it will rise for a long time!

After the private placement,. As the share capital increases, the stock price will of course fall.

1.The target of private placement is mainly institutions, ** and major shareholders and other investors with relatively large funds.

2.The ** of private placement will not be listed and circulated as soon as the landlord said. The ** of private placement has a certain period of restricted circulation, and can only be sold after the time of lifting the ban.

Therefore, whether the additional issuance will bring **pressure, we can only know when we are waiting for the ban to be lifted soon. If the additional issuance is lower than the current price, there may be selling pressure and vice versa. Of course, this is not absolute, if the **good**, even if the current **higher than the additional issuance**, the holder is willing to continue to hold, which needs to be analyzed on a case-by-case basis.

If it is a growth asset injection, the stock price will not **.

Private placement is the issuance of bonds or ** to specific investors. Private placement is a kind of additional issuance, sometimes called "private placement" or "private placement". Private placement takes advantage of the market-oriented valuation premium of the listed company, that is, relative to the book value of the parent company's assets, the assets of the parent company are amplified through the capital market, so as to increase the asset value of the parent company, and for the group company with a low holding ratio, the control of the listed company can be further strengthened through the private placement.

Private placement refers to the non-public issuance of shares by a listed company to a small number of qualified specific investors. Its issuance** is determined by the bidding of investors participating in the additional offering, and the issuance procedure is more flexible than that of the public offering. It is generally believed that this financing method is more suitable for enterprises with small financing scale and high degree of information asymmetry.

There are two situations in which a private placement occurs: one is that a large investor wants to become a strategic shareholder of a listed company, or even a controlling shareholder. In the past, there was no private placement, and they could only buy equity from major shareholders if they wanted to buy shares, and the money taken out by the new shareholders went into the pockets of major shareholders, which had little direct effect on strengthening listed companies.

The other is to merge and acquire others through private placement financing to rapidly expand the scale.

The private placement complies with the regulatory requirements of the China Securities Regulatory Commission for listed companies, fundamentally avoids related party transactions and intra-industry competition between the parent company and the listed company, and realizes the complete financial and operational autonomy of the listed company. In addition, private placement can be used as a new means of mergers and acquisitions to promote the growth of high-quality leading companies through mergers and acquisitions.

Legal analysis: private placement is a type of additional issuance. Issuance of investment products such as bonds or** to a limited number of sophisticated institutional (or individual) investors.

It is also sometimes referred to as a "private placement" or "private placement". The issuance** is determined by the auction of investors participating in the additional issuance. The issuance procedure is more flexible than that of a public placement.

This financing method is more suitable for enterprises with small financing scale and high degree of information asymmetry. After the formal implementation of China's new "** Law" and share reform, listed companies are more likely to use this equity financing method. The relevant regulations of the China Securities Regulatory Commission include:

The issuance object shall not exceed 10 people, the issue price shall not be less than 90% of the market price, the issuance of shares shall not be transferred within 12 months (36 months for major shareholders), the use of funds shall be in line with the national industrial policy, and the listed company and its executives shall not have violations.

Legal basis: Article 7 of the "Regulations of the People's Republic of China on Information Disclosure" People's governments at all levels shall actively promote information disclosure efforts and gradually increase the content of information disclosure.

Article 8: All levels of people's ** shall strengthen the standardization, standardization, and informatization management of ** information resources, strengthen the establishment of ** information disclosure platforms, promote the integration of ** information disclosure platforms and government service platforms, and increase the level of handling ** information disclosure.

Article 9: Citizens, legal persons, and other organizations have the right to supervise administrative organs' information disclosure efforts, and to submit criticisms and suggestions.

Private placement is a financing method in which a company issues new shares on the basis of the original shares. This approach allows the company to obtain new capital without affecting the rights and interests of the original shareholders, so as to obtain development opportunities.

Private placement generally refers to the company's raising of funds by selling shares to specific investors, who are generally institutional investors such as banks, insurance companies, and ** companies. The funds from the private placement can not only be used for the company's expansion, but also can be used to repay the company's debts, thereby reducing the company's debt burden.

The advantage of a private placement is that it allows the company to obtain a large amount of capital, thereby promoting the company's growth. In addition, the private placement can also allow the company to obtain funds without affecting the rights and interests of the original shareholders, so that the company has more development opportunities.

The implementation process of private placement generally includes the following steps:

1) Approval by the board of directors of the company: The board of directors of the company must approve the plan of private placement before it can be continued.

2) Selection of investors: The company needs to select specific investors in order to carry out the private placement.

3) Offering pricing: The company needs to determine the issuance of private placement shares**.

4) Issuance publicity: The company needs to publicize the private placement to attract investors.

5) Private placement: The company issues new shares to specific investors, thereby obtaining funds.

Private placement is an effective way to raise funds, but there are also some risks. Therefore, companies should pay attention to the following points when implementing private placements:

1) The funds from the private placement cannot be used for dividends or other allowances paid to shareholders.

2) The issuance of private placement of shares** shall not be lower than the market of the company's original shares**.

3) The funds from the private placement must be used for the development of the company and shall not be used for other purposes.

4) After the private placement, the company must disclose the private placement to the CSRC.

The tax issue of private placement is an important issue that companies must consider. Generally speaking, the income from private placement should be subject to value-added tax and enterprise income tax in accordance with the provisions of the tax law.

In addition, after the private placement, the company should also pay attention to the preferential tax policies. According to the relevant laws and regulations, the company can enjoy the enterprise income tax reduction and exemption policy through the qualified private placement of shares, so as to save taxes and fees.

Private placement is an effective way of financing, which has the following advantages:

1) A large amount of capital can be obtained: Private placement can allow the company to obtain a large amount of capital, thereby promoting the development of the company.

2) No impact on the rights and interests of the original shareholders: The private placement will not affect the shareholding ratio of the original shareholders, so as to protect the rights and interests of the shareholders.

Although there are many advantages to private placement, there are also some risks.

1) Private placement may affect the value of the company: Private placement may lead to the company's stock price, which may affect the value of the company.

2) Private placement may affect the company's operation: The private placement may lead to the decentralization of the company's management, which may affect the company's operation.

Therefore, when the company implements private placement, it should carefully analyze and determine.

We all know that the private placement cannot be lower than the net asset issuance, otherwise it is equivalent to you spending 1 yuan to buy assets worth more than 1 yuan, which is unfair to all previous shareholders. So how is the ** of private placement determined?

What does it mean for a private placement to be lower than the current price?

1. How to determine the private placement**?

According to the Administrative Measures for the Issuance of Listed Companies, listed companies carry out private placements, and the issuance of ** shall not be less than 90% of the average price of the company in the 20 trading days of the pricing benchmark".

Then 90% of the pricing benchmark for 20 trading days is the floor price, and a few companies will also set a cap to make their additional issuance ** not higher than a certain **. The specific determination of ** is on the issuance date (T day), according to the purchase price of institutional investors, in accordance with the principle of **priority, amount priority, and limited time.

2. The control of the stock price before the private placement

1. The company's senior management plans to actively subscribe, if the company's senior management intends to actively subscribe, then the lower the subscription, the better. Therefore, the stock price will have a large **, and then the company suddenly suspended trading and announced a fixed increase.

2. The company's senior management does not plan to subscribe, so of course Huizhi hopes that the higher the fixed increase, the better, so that the senior management can also obtain the expected annualized expected income from it. In this case, the stock price will often rise sharply before the private placement plan is announced.

3. The company's senior management carries out the capital operation game, which is essentially a high sell and low buy, buy back at a high and low level, and finally the shareholding ratio has not decreased, but it earns a lot of money from the secondary market out of thin air, and the company's stock price usually presents a cyclical cycle of ups and downs.