Since this year, the convertible bond with the highest right content has come!
After the Spring Festival, the issuance of convertible bonds increased significantly. On the 16th, Suli convertible bonds were officially issued online, which is the seventh convertible bond issued this year and the subject with the highest value of “including rights”.
Investors can not only participate in online innovation, but also participate in the “power grab” operation.
However, on Monday, the volatility of the stock market and bond market intensified, the convertible bond market fell sharply at the end of the day, and Suli Co.Ltd(603585) transactions reached a record volume, but did not rise. In the face of this highly weighted convertible bond, market funds are still somewhat hesitant.
convertible bonds with the highest rights
Suli Co.Ltd(603585) the issuance process of convertible bonds, referred to as “Suli convertible bonds”, was officially launched on Monday, with a rating of AA – and a scale of 957 million yuan.
the biggest highlight of this issuance of convertible bonds is that the company has a very high right content.
According to the announcement, the original shareholders can calculate the amount of convertible bonds according to the face value ratio of RMB 5.317 per share, and the equity registration date is February 15. Data show that the latest share price of Suli Co.Ltd(603585) is 20.05 yuan.
This means that 2005 yuan holds one hand (100 shares) of positive shares Suli Co.Ltd(603585) , and can place 531.7 yuan of Suli convertible bonds, with a placement proportion of up to 25%. This is also the variety with the highest proportion of new securities placement this year.
Therefore, the company’s old shareholders have become the biggest beneficiaries of this offering. Data show that the positions of the company’s top ten shareholders account for nearly 72%, and the company’s shareholding is relatively concentrated.
Although the old shareholders of this issuance have such a favorable first mover advantage, it is “high open and low go” from the perspective of market performance. This also highlights that the risk of “seizing power” is currently high.
On Monday, Suli Co.Ltd(603585) opened 1% higher, but since then, the market has sold a lot. The stock price remained in the doldrums until the end of the session, with a decline of more than 1%. The end of the session rebounded to close at 20.05 yuan.
The convertible bond market also performed poorly. On Monday, the convertible bond market took a sharp turn downward – it was still hitting an all-time high last week, but it began to weaken sharply on Monday. The China Securities convertible bond index fell 3.01% on Monday, the biggest one-day decline in nearly two years.
Shenwan Research Institute released a report saying that at the current market valuation level, the probability of breaking Suli convertible bonds is small. Assuming that the first day increase of convertible bonds is 22%, the placement income per share is about 1.17 yuan. Participating in the placement at the share price cost of 20.2 yuan, the comprehensive placement income is 4.58%, and there is a certain placement income.
If you do not participate in the priority placement, investors can also participate in online subscription on the 16th.
Suli Co.Ltd(603585) : double main businesses of fungicides and flame retardants
Suli Co.Ltd(603585) is a dual main business company. According to the announcement, Suli Co.Ltd(603585) is mainly engaged in the R & D, production and sales of pesticides, flame retardants and other fine chemical products. Pesticide products include chlorothalonil, azoxystrobin, pesticide preparations and other pesticide products; Flame retardant products include decabromodiphenylethane and other flame retardant products; Other fine chemical products are mainly hydrobromic acid and other products. It is reported that the company is currently the world’s leading manufacturer of chlorothalonil and China’s leading manufacturer of flame retardant decabromodiphenylethane.
According to reports, “Suli” brand has many years of history, has accumulated high popularity and brand reputation in the pesticide industry, and has been widely recognized by well-known customers at home and abroad. “Suli” brand won the export famous brand of Jiangsu Province from 2009 to 2010. Since 2014, the company has always been an international well-known brand cultivated and developed by Jiangsu Province.
The investment project of the raised funds is a sub project of the fine chemical products project of Suli (Ningxia) new material technology Co., Ltd. The investment project of the raised funds is mainly the extension of the company’s pesticide industry chain, and the products to be produced in the future mainly include: propylthiazole, the original fungicide, pyrfluryl oxalamide, benzofuranone (the intermediate of azoxystrobin), 4,6-dichloropyrimidine (the intermediate of azoxystrobin), p-chlorophenylboronic acid (the intermediate of azoxystrobin) P-phthalonitrile (intermediate of tetrachloro-p-phthalonitrile). On the one hand, the project enriches the company’s product categories and adds one bactericide and one herbicide technical product; On the other hand, enhancing the production capacity of pesticide intermediates is conducive to stabilizing product production capacity, enhancing cost control and obtaining more profits. The implementation of the project conforms to the development trend of the industry and the company’s strategic development plan, with broad market space and development prospects.
