On November 14, the Beijing Shanghai high-speed rail successfully passed the meeting. It took only 23 days from the initial declaration of prospectus on October 22 to the successful meeting, setting a new record for IPO of a shares.
Beijing Shanghai high speed railway company is the main body of investment, construction and operation of Beijing Shanghai high speed railway and stations along the line. Its main business is high-speed railway passenger transportation. In recent years, the performance of Beijing Shanghai high-speed railway has continued to improve. The net profits from 2016 to 2018 were 7.903 billion yuan, 9.053 billion yuan and 10.248 billion yuan respectively. In the first three quarters of this year, the companys net profits have also reached 9.52 billion yuan.
According to the prospectus, no more than 7557 million shares of Beijing Shanghai high speed railway are to be publicly issued this time. After deducting the issuance fee, the raised funds will be used to acquire 65.0759% of the equity of Beijing Fuzhou Anhui company, with the consideration of RMB 50 billion. The insufficient part will be self raised.
Some analysts pointed out that the listing of a company with good performance support, such as Beijing Shanghai high speed railway, means investment opportunities for investors. However, the large-scale financing of a single stock is expected to make the A-share market face greater capital pressure.
Moreover, the Beijing Shanghai high-speed railway is not an isolated example. On the same day of its successful meeting, another giant Zheshang Bank began to purchase online and offline. Data shows that Zhejiang Commercial Bank has issued about 2550 million shares in total and 765 million shares online. Due to the large scale of issuance, it is expected to become the new share with the highest winning rate since the implementation of the credit subscription system. According to the issue price of 4.94 yuan / share, the total amount of its fundraising is expected to exceed 12.597 billion yuan.
Recently, IPO has also begun to quietly speed up. According to the data, taking the online subscription date as a reference, from February last year to June this year, the number of new shares opened for subscription in a single month has been at a relatively low level, during which the amount of fundraising in a single month, in addition to may last year, is also under 20 billion yuan. In July this year, the number of new shares and the expected amount of capital raised suddenly burst out. In that month, a total of 42 new shares began to be subscribed, with an expected capital raising of 43.035 billion yuan.
After two months of decline in August and September, since October, the number of new shares to be subscribed and the amount of capital to be raised have increased significantly again. In that month, a total of 30 stocks began to be subscribed, and the amount of capital to be raised is expected to be 32.057 billion yuan. In November, the IPO also continued to speed up. As of November 14, the number of stocks to be subscribed has reached 13, and the amount of capital to be raised is expected to be 20.176 billion yuan In the second half of the month, at least 11 new shares will be purchased online, including another Big Mac postal savings bank.
According to the data, the postal savings bank, which will officially open online and offline subscription on November 28, has a total issuance of 5172.16 million shares, and is expected to raise 28.447 billion yuan at the issue price of 5.5 yuan per share. If the over allotment option is fully exercised, the total amount of raised funds is expected to be 32.714 billion yuan, which is expected to be the largest new share in the year.
Under the background of the increasing speed of IPO, the former two giants, Zheshang Bank and postal savings bank, concentrated on the opening of subscription in November, and the Beijing Shanghai high-speed railway, which had been held in a flash, was also about to come. Some analysts pointed out that this will provide more choices for investors, but the capital pressure it is expected to bring to the A-share market should not be underestimated, among which the development of individual stocks encountering bottlenecks and weak performance growth may bear the brunt. However, even if the IPO is accelerated and the Big Mac comes one after another, for those stocks with real value and valuation advantages, even if they are affected, there will be limited space for downward adjustment.
Source: editor in charge of interface news: Yang bin_nf4368