Is it good or bad to land on the main board through a share swap

In the bond market, more and more people are joining the industry and want a piece of the pie. We know that investment is risky, and if you don't grasp it well, you may lose yourself. Therefore, it is useful to understand the changes in bonds over time.

1. Exchangeable bonds.

Exchangeable bonds, the full name of "exchangeable bonds of other companies", refers to the holders of shares of listed companies by mortgaging their holdings to the custodian and then issuing corporate bonds, the holder of the bond in a certain period of time in the future, in accordance with the conditions agreed at the time of bond issuance, with the bonds held in exchange for the issuer's mortgage of the equity of the listed company. Exchangeable bonds are a type of financial derivative with embedded options, which can be said to be a type of convertible bond.

2. Is it good or bad for exchangeable corporate bonds to enter the share swap period?

For the exchangeable corporate bonds to enter the share exchange period is good or negative, it depends on whether the controlling shareholder wants to retract **, if it wants to recover, then before the expiration of the share exchange period is negative, because the price will be deliberately lowered, so that the creditor holders are unwilling to exchange shares after the exchange period. If you don't want to retract, then it is good before maturity, because the controlling shareholder will generally give a good chance to promote ****, so that after the maturity, the creditor holder would rather change to ** to sell shares. Therefore, after expiration, it is bearish, and there will be many ** selling.

However, basically the controlling shareholders are unwilling to exchange shares, so once a company issues exchangeable bonds, it is almost always negative.

3. Main characteristics of exchangeable bonds.

Generally speaking, the issuer of the exchangeable bond is the controlling parent company, while the issuer of the convertible bond is the listed subsidiary.

The subject of exchangeable bonds is the subsidiary** held by the parent company, which is a stock share, and the issuance of exchangeable bonds generally does not increase the total share capital of its listed subsidiary, but after the conversion of shares, it will reduce the shareholding ratio of the parent company in the subsidiary.

Exchangeable bonds provide fundraisers with a low-cost financing tool. Since exchangeable bonds give investors a right to convert**, their interest rates are lower than those of general bonds of the same maturity and with the same credit rating. Therefore, even if the conversion of exchangeable bonds is not successful, the repayment cost of the issuer is not high, and there is no impact on the listed subsidiary.

Is it good or bad for exchangeable corporate bonds to enter the swap period? It can be understood from the article that for exchangeable corporate bonds to enter the share swap period, it is usually bearish. However, this is not absolute, and the details need to be determined according to the actual situation.

If you have any doubts about this, it is best to consult a professional to answer your questions.

Thirdly, you need to run a simulation before you do the real thing, so that your losses can be minimized.

Fourth, it is necessary to have the basic knowledge of three aspects, and then continuously improve these knowledge in the process of speculation: one is the basic analysis method, the second is the technical analysis method, and the third is the risk analysis method.

Fifth, you should understand that there are still many irregularities in China's current market, so you should also have some technology for China's market, such as the problem and performance of making a bank, and the role and significance of stock evaluation.

Sixth, you should pay attention to both long-term and short-term analysis and investment training, and you can't learn all the financial knowledge just by doing it short.

Finally, you must know that there are some financial knowledge that cannot be learned through China's ** market, so you should step up your efforts to learn other financial knowledge in addition to **, which seems to be of little use to the current **, but it may be an important part of your future livelihood at home and abroad, and achieve huge benefits.

Positive, merger is for better development. If there is such news, then there will inevitably be a big rise. Even the limit is up.

Good. It belongs to asset restructuring, which is good, and if it does not skyrocket in the early stage, it should have a good profit.

3 All the proceeds of the exchangeable corporate bonds entering the share swap period depend on whether the controlling shareholder wishes to withdraw the shares. If he wants to withdraw his shares, it is not good before the expiration of the exchange period, because he will deliberately lower the ** so that the creditor holders are reluctant to exchange shares after the exchange period. If you don't want to take it back, it's good before maturity, because the controlling shareholder will generally give a good one to promote **, so the creditor holder would rather exchange shares and sell ** after maturity.

So it's not good after expiration, and a lot of ** will be sold. But basically the controlling shareholder is reluctant to exchange shares, so once a company issues exchangeable bonds, it is almost negative.

Further information: Convertible bonds, also known as convertible bonds, are a type of bond. It can be converted into shares of the bond issuing company, and the conversion ratio is generally determined at the time of issuance. The coupon rate of a convertible bond is usually lower because the right to convert into ** is a compensation for the bondholder.

This is because when a convertible bond is converted into common equity, the value of the conversion is generally much greater than the value of the original bond. However, once converted to **, there is downside risk and there is no longer a bond hedging function.

Essentially, convertible bonds are based on the issuance of corporate bonds, with options attached to them, allowing the purchaser to convert the purchased bonds into the designated company's ** within a specified time frame. Exchangeable bonds and their basis** belong to different issuers. Generally speaking, the issuer of exchangeable bonds is the controlling parent company, while the issuer of the underlying ** is the listed subsidiary.

The subject of the exchangeable bond is the shares of the subsidiary held by the parent company, which is **. The issuance of exchangeable bonds generally does not increase the total share capital of its listed subsidiary, but the conversion will reduce the proportion of the parent company's shareholding in the subsidiary. Exchangeable bonds provide financiers with a low-cost financing tool.

Because exchangeable bonds give investors the right to convert**, their interest rates are lower than ordinary bonds of the same maturity and credit rating.

Therefore, even if the exchangeable bond conversion is unsuccessful, the debt service cost of its issuer is not high and has no impact on the listed subsidiary. Bonds are generally issued by listed companies and are an important way for enterprises to raise funds. The claims issued by listed companies can be divided into universal bonds, convertible bonds, repayable corporate bonds, etc.

Corporate bonds.

Exchangeable bonds, the full name of "exchangeable bonds of other companies", refers to the corporate bonds issued by holders of shares of listed companies by pledging their holdings to custodians. Exchangeable corporate bonds entering the equity swap period are usually bearish.

It's good for both dresses, but comparatively speaking, the small side of the company is more favorable than the larger side of the company

1. All normal indicative announcements only.

Generally, the results of the share exchange have a long-term impact, and the creditor's choice of share exchange indicates that they are optimistic about the company's future, but the shareholding of the corresponding controlling shareholder will be weakened, so the positive and negative need to look at these two influencing factors.

This share exchange is 600591 per share can be exchanged for 600115 of shares, you calculate how much the 600115 of shares is, and then look at the current 600591 of the ****, you will find that the current situation is that the 600115 of shares is significantly higher than the 600591 of ****10% or so, for the holder of the 600591 there is a certain theoretical arbitrage space, if the exchange of shares, 600591 The holders of the stock exchange have a higher demand for profit cash-out, which will lead to a certain amount of pressure on the 600115 after the stock exchange.

It should also be noted that from the relevant announcement, it can be seen that the suspension of trading from the 12th to the 14th is certain, but it can be said for sure that you will not resume trading on the 15th, the reason is that the relevant ** share exchange process is not just completed in those days, the 12th to 14th is just a relevant shareholder who has objections to the share exchange to provide a cash option exercise time, after this time will enter the substantive procedure of the relevant share exchange merger, this procedure generally has a certain amount of time, but during this period of time related ** If trading is still suspended, it will be suspended until the relevant proceedings are completed.

Finally, the resumption of trading after the merger, the first day of resumption of trading is not limited to the rise and fall, the day before the resumption of trading is based on Monday's ****, not in yuan, that yuan is only a share exchange for dissenting shareholders, if you do not agree to the merger, holding 600115 per share can be exchanged for yuan in cash.

There is also a point that the first day of resumption of the opening ** is not necessarily equal to the 11th of the ****, the opening of the ** can be high or low open, only the resumption of the day of yesterday **** is still with the 11th.

Generally speaking, the first day of the resumption of this merger is up or down depending on the merger plan and the merger's **** for this plan of the discount is what, from the situation of this **600591 **** there is a large discount, which will have a certain adverse impact on the first day of the resumption of the 600115, the reason is that the holder of the 600591 has a large arbitrage space, and there are requirements for cashing after the resumption of trading, so the first day of resumption of trading 600115 **** There should be a lot of upward pressure, so the probability of 600115 theoretically ** is low.

··· No, the stock price will not change, it's just that the holder of the company's shares has changed, but this is good news, this move has improved the company's strength, so your ** will rise! The increase limit is still 10%.

Approaching the Spring Festival, the air transport sector is relatively good and can continue to be held.

According to the announcement, NIO Group has applied to the Listing Committee of the Hong Kong Stock Exchange for permission to list and trade Class A ordinary shares issued pursuant to the introduction of Class A ordinary shares, Class A ordinary shares to be issued under the share incentive plan (including Class A ordinary shares issued for exercising share options or other awards granted or may be granted from time to time), and Class A ordinary shares to be issued upon conversion of convertible notes and upon conversion of Class B ordinary shares or Class C ordinary shares into Class A ordinary shares.

The difference in introducing listing is that no new shares will be issued, but the shareholders of the enterprise will apply for listing and trading of their old shares, and to a certain extent, there will be no financing involved.

Although this is good, the stock price will not rise sharply, mainly because the circulation is too large, and the stock price cannot be pulled without large funds.