On February 21, convertible bonds staged another crazy scene in history. A convertible bond suddenly rose and soared by 70%!
The super engineering concept of “counting East and counting West” is popular. The trend of related stocks, especially convertible bonds, is amazing. Jiali convertible bonds soared by 69.75% at the highest intraday, while ningjian convertible bonds had a daily turnover of 10.98 billion yuan, exceeding the turnover of any A-share stock on the same day.
rare in the history of convertible bonds
Jiali convertible bonds soared 69.75%
The concept of “counting from the east to the west” continued to ferment vigorously. Relevant stocks of Nanjing Canatal Data-Centre Environmental Tech Co.Ltd(603912) , Ningbo Construction Co.Ltd(601789) , Guizhou Bc&Tv Information Network Co.Ltd(600996) , Guangdong Aofei Data Technology Co.Ltd(300738) rose like a rainbow. These stocks all had convertible bonds, and the increase of relevant convertible bonds was amazing.
Nanjing Canatal Data-Centre Environmental Tech Co.Ltd(603912) even pulled the two word limit, and the buying was very strong. Jiali convertible bonds rose by more than 9% at the opening of the morning, opened at 145 yuan, then quickly hit a 20% increase “temporary suspension”, resumed trading half an hour later, immediately pulled another 30% increase, temporarily suspended trading, pulled again in the last three minutes, once hit 225 yuan, increased by 69.75%, and still rose 57.62% to 208.93 yuan at the closing, The trading was suspended for a long time, but the turnover on that day was still as high as 940 million yuan.
Not only Jiali convertible bonds, but also ningjian convertible bonds with the concept of counting from east to west. The share price is also very fierce, Ningbo Construction Co.Ltd(601789) has risen for four consecutive times, including the last three one word limits. Ningjian convertible bonds broke out. After rising 24.9% last Friday, it rose 36.92% on Monday, February 21, to close at 237.29 yuan.
In particular, it is worth noting that the turnover of ningjian convertible bonds on the same day was as high as 10.98 billion yuan, exceeding the turnover of any A-share stock on the same day.
netizens were stunned
valuation is too high and capital speculation is obvious
For the sudden surge of Jiali convertible bonds and ningjian convertible bonds, netizens were also stunned and didn’t know what the situation was. Judging from the valuation of the conversion premium rate, it has been a little outrageous.
Since the prices of Jiali convertible bonds and ningjian convertible bonds are more than 200 yuan, they have no debt and need to be supported by equity. The conversion values of these two convertible bonds are only 82 yuan and 145 yuan respectively, and the conversion premium rates are as high as 155% and 64% respectively.
In other words, if we want to maintain the current price of convertible bonds, the positive shares of the two convertible bonds will have to rise by 155% and 64%, and the price of convertible bonds will be reasonable.
Some market participants said that the bond balances of Jiali convertible bonds and ningjian convertible bonds are small, 300 million and 539 million yuan respectively. As a concept of counting East and West, they are vulnerable to market speculation. The sharp rise in prices belongs to capital speculation, and investors need to pay attention to risks.
