After completing the largest share allotment financing in the history of the securities industry, the “first brother” Citic Securities Company Limited(600030) announced its latest operation.
Citic Securities Company Limited(600030) announced on the evening of February 11 that on February 10, it signed a deposit business agreement with Hua Xia Bank Co.Limited(600015) to purchase three fixed-term deposits, totaling 8 billion yuan. According to the announcement, the expected annualized rate of return / deposit interest rate of the three time deposits are 2.28%, and the total expected amount of return is 36.0667 million yuan.
buy 8 billion yuan time deposit
The company opened a fixed deposit of {60002} on the evening of November 15, and signed a fixed deposit agreement of {60002} with a total term of {60002} 15 {60002} in the company.
According to the announcement, Citic Securities Company Limited(600030) the three fixed-term deposits purchased this time are 2 billion yuan, 3 billion yuan and 3 billion yuan respectively, the product terms are 61 days, 62 days and 90 days respectively, and the income type is breakeven. The expected annualized rate of return / deposit interest rate is 2.28%, and the total expected amount of return is 36.6067 million yuan.
For this cash management, Citic Securities Company Limited(600030) said it intended to make full use of the company’s temporarily idle raised funds, further improve the use efficiency of raised funds, increase the company’s capital income, and seek more return on investment for the company and shareholders.
Citic Securities Company Limited(600030) also explains why you choose time deposits. Citic Securities Company Limited(600030) said that the company selected the bank time deposit with Principal Guaranteed commitment this time, which has low investment risk and is within the company’s control. Once it is found or judged that there are factors affecting the return of investment products, the company will take corresponding preservation measures in time to control the investment risk to the greatest extent.
does not affect the normal turnover of fund-raising project construction
8 billion yuan, accounting for 35.72% of the total Citic Securities Company Limited(600030) allotment and fund-raising of 22.396 billion yuan. Citic Securities Company Limited(600030) will this affect the fund-raising plan?
Citic Securities Company Limited(600030) said that the company’s use of some idle raised funds for cash management is implemented on the premise of ensuring that the investment plan of raised funds will not be affected, will not affect the normal turnover needs of the company’s project construction of raised funds, and there is no behavior of changing the purpose of raised funds.
According to the previous announcement of Citic Securities Company Limited(600030) , the investment projects of raised funds and the use plans of raised funds after deducting the issuance expenses are as follows: it is planned to invest 13.318 billion yuan in the project of “developing capital intermediary business”, 5 billion yuan in the project of “increasing investment in subsidiaries” and 3 billion yuan in the project of “strengthening the construction of information system”, Invest 1 billion yuan in the project of “supplementing other working capital”.
According to the use plan and actual rhythm of funds raised by Citic Securities Company Limited(600030) A-share allotment, on the one hand, it is proposed to increase the investment of 5 billion yuan in subsidiaries. Due to the prior approval procedures involving the establishment and capital increase of subsidiaries by regulators, some funds can be used only after obtaining regulatory approval, and the rest need to be used according to the business capital needs of subsidiaries, After completing the relevant approval process, it is expected that some funds will have a certain idle period. On the other hand, the 3 billion yuan to be used to strengthen the construction of information system needs to be used in batches according to the construction progress of the company’s information system.
Citic Securities Company Limited(600030) said that some A-share raised funds are expected to have a certain idle period. Therefore, based on the principle of further improving the efficiency of fund use and making rational use of idle raised funds, Citic Securities Company Limited(600030) has carried out cash management of 8 billion yuan.
listed securities companies frequently raise funds to replenish blood
At the moment when the “Matthew effect” of the securities industry is becoming more and more intense, becoming bigger and stronger has become the consistent goal of securities companies, and fund-raising and blood replenishment has also become an important driving force for securities companies to expand their capital scale.
According to incomplete statistics of China Securities Journal and China Securities Taurus reporter, since 2021, including Citic Securities Company Limited(600030) , 9 listed securities companies have implemented fixed increase, allotment of shares or issuance of convertible bonds. Among them, the fund-raising amount of Citic Securities Company Limited(600030) allotment is 22.396 billion yuan, and the fund-raising amount of Hongta Securities Co.Ltd(601236) , Soochow Securities Co.Ltd(601555) allotment and Tianfeng Securities Co.Ltd(601162) , Western Securities Co.Ltd(002673) fixed increase are between 7.5 billion yuan and 8.2 billion yuan.
Since 2021, the number of listed securities companies that have announced additional issuance, allotment of shares or issuance of convertible bonds but have not yet landed has been 8. Among them, the upper limit of allotment amount of China Industrial Securities Co.Ltd(601377) , Orient Securities Company Limited(600958) and the upper limit of fixed increase scale of China Greatwall Securities Co.Ltd(002939) are all 10 billion yuan or more.
The fund-raising purposes of the above listed securities companies focus on the development of various important businesses, such as “developing capital intermediary business”, “developing trading and investment business”, “developing margin trading business” and “developing investment banking business”.
Insiders said that under the background of serious homogenization of traditional brokerage business and decline of commission rate, listed securities companies have planned to develop capital consuming businesses such as capital intermediary and investment business, and put forward higher demand for net capital scale. It can be predicted that with the increasingly fierce competition in the securities industry and the regulatory system paying more attention to net capital, whether large securities companies or small and medium-sized securities companies will still have refinancing in the future.
