According to Alibabas auction page, the starting price of all 23.06% of Jincheng pharmaceutical shares to be transferred by Beijing Jinsheng in this agreement is as high as 2.719 billion yuan. According to the closing price of Jincheng pharmaceutical on June 19, the market value of this part of equity is 2.79 billion yuan.
Photo source: Alibaba auction page
The sky price target is doomed to be shortlisted in this bidding activity with a very high threshold. To sign up for the auction, you need to pay a deposit of 136 million yuan first, and after the auction starts, the price will be increased by up to 10 million yuan each time.
Due to the high degree of attention, although it is half a month before the bidding starts, 1570 people have been attracted to watch and 85 people have set up reminders. Of course, due to the extremely high threshold, up to the time of press release, no one has signed up to participate in the shooting.
Its worth noting that before Alibaba auctioned all kinds of online auction targets, from real estate, jewelry to yachts and airplanes. The stock rights of major shareholders of listed companies seized by the court have also been the hot target of Alibaba auction platform.
But this time, it is not a common online auction of stock rights, but an agreement transfer in the form of auction. At the same time, compared with the common agreement transfer, like Beijing Jinsheng, the largest shareholder of Jincheng pharmaceutical, there has never been a precedent for the agreement transfer in the way of public bidding on the online auction platform.
According to the bidding rules, as long as there is one person signs up to bid and meets the transaction conditions, the transaction can be completed. Industry insiders pointed out that a large proportion of agreement transfer is often difficult to find buyers. It is conducive to solicit buyers by means of open bidding on well-known online auction platforms.
Of course, due to the huge amount of the bid and the position of the largest shareholder of the listed company, and half a month before the auction, it is full of uncertainty whether the agreement transfer conducted in the form of auction can finally be concluded.
The first major shareholders intention to abdicate has been decided
As for the position of the largest shareholder, Beijing Jinsheng has decided to withdraw.
According to Alibaba auction page information, Jincheng pharmaceutical is one of the top 100 pharmaceutical enterprises in China. It is a double leading enterprise of cephalosporin side chain intermediates and biopharmaceuticals in China. It has formed the whole industrial chain of intermediates, APIs and preparations, and realized the three-tier development of characteristic APIs, brand medicines for women and children and under research heavyweight drugs.
In 2016, Jincheng Pharmaceutical Co., Ltd. set a price of 2 billion yuan to acquire 100% equity of Lanyi pharmaceutical held by Beijing Jinsheng and Dazi venture capital by issuing shares, and Beijing Jinsheng obtained 25.05% equity of Jincheng Pharmaceutical Co., Ltd., and later became the first largest shareholder passively due to the equity transfer of Jincheng industrial, the former largest shareholder of Jincheng Pharmaceutical Co., Ltd.
On September 26, 2019, Jincheng pharmaceutical announced that Beijing Jinsheng had a preliminary negotiation with another listed company, Dezhan health, on the transfer of 25.05% of its shares in the company, reached a framework clause, and signed the relevant framework agreement on September 25, 2019.
In terms of transfer price, the two sides negotiated to temporarily estimate the transaction price as 2.1-2.6 billion yuan per share based on the price range of 21.36-26.40 yuan per share. The payment method is cash. On November 4, 2019, the two sides signed the supplementary agreement of the framework agreement again.
At that time, this a eat a potential transaction triggered market imagination. Dezhan health focuses on cardiovascular and cerebrovascular drugs, anti-cancer drugs, etc. after marriage with Jincheng medicine, it is conducive to the formation of industrial coordination between the two sides.
Although Beijing Jinsheng promised in the notice that it would not reduce its shares through centralized bidding in the next six months. However, as a fund, Beijing Jinsheng has entered the liquidation period, so it is also trying to find an offer Party.
In fact, before the transfer by auction, Beijing Jinsheng had begun to sell its shares, and on May 20 and June 8, it reduced its 1.9967% stake in Jincheng pharmaceutical through a large-scale transaction, with the shareholding ratio reduced from 25.05% to 23.06%.
Image source: wind
At the same time, since May 15, Jincheng pharmaceuticals share price has risen rapidly, from less than 20 yuan / share to more than 30 yuan / share in a month. By the end of June 19, Jincheng pharmaceuticals share price had reached 30.80 yuan / share, with a price earnings ratio of 59 times.
Photo source: wind extended reading Wangfujing tax free operator license not published? Why is it an exception? Miss Dongs live broadcast has just set a sales record. Grees shareholders want to sell 42 million shares. Think carefully? It seems like a loss making flight. China Eastern Airlines is calling for cash flow. Source: responsible editor of China Securities News: Chen Hequn_ NB12679