China Merchants Securities on a stock market value evaporated 120 billion h break-minmi

China Merchants Securities on A stock market value evaporated 120 billion h to break the Chinese Economic Net Beijing on September 30th news (reporter Guan Jing) recently launched in Hongkong, China Merchants Securities prospectus, after becoming the Orient Securities and Everbright Securities, this year third landed the Hong Kong stock market of mainland brokerage. China Merchants Securities the shares to be issued 891 million new shares, the IPO price range of HK $11.54-12.78, is expected to raise funds 102.85 to HK $11 billion 390 million (about 13.3 to 1 billion 470 million U.S. dollars). China Merchants Securities H shares are expected to be listed in October 7th, and joint sponsors are China Merchants Securities, JP Morgan chase and Morgan stanley. The prospectus, including Ma Huateng, Guo Guangchang and Jia Yueting and other capital chiefs, China life, Chinese reinsurance, Yunnan city investment companies have "pockets" shares. However, investors admit H shares behind, Merchants Securities in the A share market is a "chicken feather"". Compared with the April 2015 9 record of the highest price of 40 yuan, in September 29th the company’s closing price of only 16.97 yuan, 120 billion 93 million yuan market value evaporated. It is worth noting that this year the H-share listing of Everbright Securities and Orient Securities are listed in the beginning to break, Zhejiang bank and the Bank of Tianjin has two mainland banks listed on the first day of break in Hongkong, China Merchants Securities market outlook is not optimistic. At present, there are A+H securities stocks in Hong Kong stock market, namely CITIC Securities, Haitong Securities, GF Securities, Huatai Securities, Everbright Securities and orient securities. In addition, CITIC construction, Guotai Junan Securities, Societe Generale Securities, Changjiang Securities and other brokers are also busy preparing for landing Hong Kong stocks. From the scale of the net profit of the large brokerages in the mainland, among the top 15 brokerages, 12 have completed the listing or planned to be listed in Hongkong. In response to the prospect of Hongkong listed companies, China Economic Net tried to interview the relevant staff of China Merchants Securities office, but did not receive a reply as of press time. Raising the amount of H shares down 70% capital gangster admission "hold popularity" as early as last May 15th, China Merchants Securities announcement that intends to issue overseas listed foreign shares (H shares) and the application in the Hongkong stock exchange listing. Later in June, the actual control of China Merchants Securities, China Merchants Group received approved by the SASAC, the SASAC of China Merchants Securities IPO agreed to issue not more than 1 billion 179 million shares H shares of stock options. At that time, media reports said, China Merchants Securities initially planned to start IPO transactions in the fourth quarter of 2015, financing through Hongkong listing is not more than 5 billion U.S. dollars. But since then, A shares plummeted last summer, and valuations of similar companies also fell, forcing China Merchants Securities to reconsider its IPO funding. According to the current information disclosure of China Merchants Securities, H shares fell to a maximum of $1 billion 470 million fund-raising, means that China Merchants Securities has raised by 70% more than expected. At the same time in order to ensure the smooth issuance of H shares, China Merchants Securities also introduced a draft plan of staff through asset management plan subscription H shares this year 3 month, participants for the company directors and senior management personnel, VP level and above personnel performance standards and other levels of outstanding personnel, a total of not more than 1500, the total amount of funds a total of not more than 20 billion yuan. Recruit; 招商证券靠天吃饭:A股市值蒸发1200亿 H股破发 中国经济网北京9月30日讯(记者关婧) 近日,招商证券在香港启动招股,成为继东方证券和光大证券之后,今年第三家登陆港股市场的内地券商。招商证券此次拟发行8.91亿股新H股,招股价范围为11.54-12.78港元,预计筹资金102.85至113.9亿港元(约13.3至14.7亿美元)。 招商证券H股预计10月7日挂牌,联席保荐人为招商证券、摩根大通及摩根士丹利。此次招股,包括马化腾、郭广昌和贾跃亭等资本大佬,中国人寿、中国再保险、云南城投等公司纷纷“掏腰包”入股。 不过投资者入场H股的背后,招商证券在A股市场却是“一地鸡毛”。与2015年4月9日创下的最高价40元相比,9月29日该公司收盘价仅为16.97元,市值蒸发1200.93亿元。 更值得注意的是,今年登陆H股市场的光大证券和东方证券均在上市初即告破发,浙商银行和天津银行两家内地银行也在香港上市首日破发,招商证券的上市前景不容乐观。 目前港股已有A+H券商股分别是中信证券、海通证券、广发证券、华泰证券、光大证券和东方证券。另外中信建投、国泰君安、兴业证券、长江证券等券商也在紧锣密鼓筹备登陆港股。从内地大型券商净利润排名规模来看,排名前15家券商中,已有12家在香港完成上市或计划上市。 针对公司香港上市的前景,中国经济网试图采访招商证券董秘办相关人员,但截至发稿时未收到回复。 H股募资额下调七成资本大佬入场“撑人气” 早在去年5月15日,招商证券发布公告称,拟发行境外上市外资股(H股)并申请在香港联交所主板挂牌上市。在随后的6月份,招商证券实际控制人招商局集团收到国资委批复,国资委同意招商证券IPO发行不超过11.79亿股H股股票方案。 当时有媒体报道称,招商证券最初计划在2015年第四季度启动IPO交易,通过香港上市筹资不超过50亿美元。但此后A股在去年夏天暴跌,同类公司的估值也下跌,迫使招商证券重新考虑其IPO筹资额。 根据目前招商证券披露的信息,H股集资额降至最多14.7亿美元,意味着招商证券已经将预期集资额下调了七成多。 同时为了保证H股顺利发行,招商证券还在今年3月推出了员工通过资产管理计划认购H股的方案草案,参与对象为公司董监事、高级管理人员、VP层级以上业绩达标人员及其他层级业绩突出人员,合计不超过1500人,资金总额合计不超过20亿元人民币。 招商证券在公告中表示,所有参与对象的购股股数在H股IPO价格确定后将一并确定,而最终的价格会有多大的折价率,还需要看市场的决定。 尽管员工持股计划尚未落实,不过招商证券为H股顺利上市请来了不少资本大佬“站台”。 根据港交所披露的信息,招商证券的基石投资者为国际配售中的重要部分,占H股IPO比重60%。在11名基石投资者中,人保集团旗下的人保寿险认购最多,达5.225亿美元;周大福与EastPacific各认购5000万美元;中国再保险、腾讯主席马化腾旗下Advance Data Services Limited、复星国际、国家电网子公司英大信托、云南城投集团子公司彩云国际、乐视网全资子公司LegitValue分别认购3000万美元。另外,中国兵器装备集团认购2000万美元。 虽然目前招商证券的H股认购尚未结束,不过东方证券7月H股公开认购不足,只获得96%认购,国际配售部分录得适度的超额认购,光大证券在港发售部分则超额认购0.68倍。有香港分析师认为,招商证券H股的市场认购可能较国际配售要“清淡”。 另外,除了集资额缩水,招商证券此次发售H股还较A股大幅折价。其定下的招股价区间是11.54至12.78港元,以9月29日A股收盘价16.97元人民币计,H股较A股折让约35%至41%。 由于目前香港市场偏弱,从已上市的券商新股情况来看,形势不容乐观。以东方证券为例,发行价为8.15港元,挂牌当天即破发。截至9月29日收盘,股价报7.91港元,较发行价跌去2.94%。另一券商光大证券,也是上市第四日就跌破发行价12.68港元,29日收盘报11.80港元,已较招股价跌去6.94%。 A股表现“一地鸡毛” 定增110亿难托股价 在投资大佬入场H股的背后,招商证券在A股市场却是“一地鸡毛”。公司9月29日收于16.97元,与2015年4月9日创下的最高价40元相比,市值蒸发1200.93亿元。 形成对比的是,招商证券在A股市场没有停止融资脚步。 2014年4月11日,招商证券非公开发行股票的申请获得证监会通过。公告显示,招商证券向特定对象非公开发行股票11.47亿股,发行价格为每股9.72元,最终募资111.02亿元,招商证券将募集资金全部用于补充公司资本金和营运资金,并于当年年底使用完毕。 另外,今年上半年招商证券净利润同比大降69.5%至22.36亿元,营业收入51.98亿元,同比下滑67.23%。招商证券称,主要是由于去年7月以来市况不景气及参与股市稳定措施。 而招商证券2015年度实现营业收入252.92亿元,同比增长129.87%,归属于母公司股东的净利润109.09亿元,同比增长183.29%。 数据显示,经纪手续费、佣金和利息收入一直是招商证券最主要的收入来源,占总收入的比重在六成左右。但今年上半年,该业务收入为48.9亿元,较上年同期的125.1亿元下降60.9%。同时公司的证券投资业务营收为2.7 亿元,同比下降93%。 由此来看,招商证券亦难避免“靠天吃饭”的行业规律。事实上,上半年券商日子都不太好过。 中国证券业协会统计数据显示,今年上半年证券行业累计实现营业收入1570.79亿元,净利润624.72亿元,分别较同期下滑52.47%和59.22%,其中行业代理买卖证券业务净收入559.76亿元,较同期下滑64.67%。 而A股25家上市券商上半年实现净利润总额421.48亿元、营业收入总额1160.8亿元。其中,21家上市券商今年上半年净利惨遭“腰斩”,山西证券净利跌幅最大,同比下降85%,14家上市券商营业收入同比降幅逾五成。 分析人士表示,券商上半年业绩同比大幅下滑已在市场预期内,主要体现为经纪业务手续费净收入以及公允价值变动损益较上年同期下降明显。随着大盘从高点滑落,今年上半年证券市场表现低迷、股票交易量同比大幅萎缩、两融余额的下降等市场环境的变化,以及监管的日趋收紧,对券商业绩影响很大,是导致营收和净利润腰斩的主要原因。   股市早报,投资前瞻,涨停预测,牛股捕捉,尽在微信号【凤凰证券】或者【ifengstock】  盘后剖析A股走势,指点明日走势,请关注微信号【复盘大师】或【fupan588】      相关的主题文章: