The first bank convertible bond is on the way in 2022 Bank Of Chengdu Co.Ltd(601838) announced that the “Chengdu silver convertible bonds” with an issuance scale of 8 billion yuan will start online subscription on March 3. It is understood that the winning rate of investors participating in the online promotion of Chengdu bank convertible bonds will still be high, which is expected to impact “one of the five”.
“Chengdu silver convertible bond is a rare variety this year. A better way to participate in new bonds this year may not be to make new ones online, but to grab the right to distribute bonds.” A number of convertible bond investors told reporters
This is more obvious in the stock bar discussion area. Many investors are not satisfied with participating in the new “Chengyin convertible bonds” this time. The next target of power grabbing is Bank Of Chongqing Co.Ltd(601963) on the upcoming issuance of 13 billion yuan of convertible bonds.
this year’s first bank convertible bond or Chengda new welfare
The issuance process of RMB 8 billion bonds will be officially announced on March 3.
The initial conversion price of Chengdu silver convertible bonds is 14.53 yuan / share. Coupon rate: 0.20% in the first year, 0.40% in the second year, 0.70% in the third year, 1.20% in the fourth year, 1.70% in the fifth year and 2.00% in the sixth year. Redemption of bonds at maturity: within 5 trading days after the maturity of the convertible bonds issued this time, the issuer will redeem the convertible bonds that have not been converted into shares at the price of 107% of the face value of the bonds (including the last interest).
Bank Of Chengdu Co.Ltd(601838) is a characteristic city commercial firm based in Chengdu and Chongqing, which is controlled by Sichuan SASAC. Since its establishment, it has always adhered to the market positioning of “serving the local economy, small and micro enterprises and urban and rural residents”, actively explored differentiated and characteristic development paths, and formed its own unique business characteristics and competitive advantages. Its comprehensive strength ranks in the forefront of western urban commercial banks, and some business indicators have reached the level of China’s advanced banks Bank Of Chengdu Co.Ltd(601838) outlets are mainly distributed in Chengdu and Chongqing. The construction of Chengdu Chongqing double city economic circle provides a superior environment for the steady growth of the company’s performance.
The total proportion of shares held by Chengdu municipal state-owned enterprises actually controlled by Chengdu SASAC is 30%, with Chengdu SASAC as the actual controller and Chengdu financial holding as the controlling shareholder.
This time, the convertible bond rating of Chengdu bank is AAA, and the debt bottom is higher than 90 yuan.
Due to the large issuance scale, new investors are expected to achieve a higher signing rate of “one out of six” or even “one out of five”.
Statistics show that Bank Of Chengdu Co.Ltd(601838) top ten shareholders hold 63%. If reference is made to Zhejiang Huayou Cobalt Co.Ltd(603799) and Tongwei Co.Ltd(600438) , the proportion of old shareholders is expected to reach 80%.
If the placement is made according to 80% of the old shareholders and 11 million households participate in the innovation, the amount of the online innovation of Chengdu silver convertible bonds is about 1.6 billion yuan, and the winning rate is around 0.016%.
build a benchmark bank in the West
In January, Bank Of Chengdu Co.Ltd(601838) released the announcement of performance increase in 2021. It is estimated that the net profit attributable to shareholders of Listed Companies in 2021 will increase by 18% to 25% year-on-year.
Northeast Securities Co.Ltd(000686) released a report that in the fourth quarter of last year, Bank Of Chengdu Co.Ltd(601838) performance growth continued to accelerate, and it is optimistic about the sustainability of its growth. According to the calculation of the announcement, Bank Of Chengdu Co.Ltd(601838) the net profit attributable to the parent company in the fourth quarter of last year was about 1.979 billion-2.401 billion yuan, an increase of 13.7% – 37.9% compared with the third quarter of 2021 and 8.5% – 31.6% compared with the fourth quarter of 2020. This shows that the company’s operation continues to improve and its performance growth exceeds expectations. Superimposed on the consolidation of its debt side cost advantage and asset quality, it is optimistic about the sustainability of its performance growth.
The cost advantage of the liability side is significant, and the deposit growth supports the scale expansion. Industry insiders believe that Bank Of Chengdu Co.Ltd(601838) liability side has four significant advantages: high proportion of deposits, high demand rate of deposits, low cost rate of deposits and fast growth of deposits. The four advantages not only ensure the cost advantage of Bank Of Chengdu Co.Ltd(601838) liability side, but also provide a solid foundation for the expansion of its asset scale. From the latest data, the year-on-year growth rate of Bank Of Chengdu Co.Ltd(601838) asset scale ranks first among urban commercial banks, creating conditions for the high increase of annual profits.
Ping An Securities said, Bank Of Chengdu Co.Ltd(601838) as an urban commercial firm rooted in Chengdu, the company’s future development potential is worth looking forward to. With the issuance of 8 billion yuan of convertible bonds, the replenishment of capital can effectively support the scale expansion of the company.
profit 30% of “divine operation”
Different from the previous excitement about the high school signing rate, many investors told reporters that there are other ways to obtain higher yields.
How can I get new convertible bonds? Generally, it can be divided into two parts. First, old shareholders give priority to placing , and the shareholder qualification will be determined before the online subscription date. Placing convertible bonds in a certain proportion.
This time Bank Of Chengdu Co.Ltd(601838) issued convertible bonds, many investors locked the amount of convertible bonds in advance by seizing power
“Since December last year, there have been two waves of market in bank stocks, one in mid December and the other in January this year. If you choose to increase your holdings of Bank Of Chengdu Co.Ltd(601838) positive shares in mid December and wait for the placement, the profit of positive shares has been close to 30%.” A convertible bond investor told reporters.
In the secondary market, the overall strength of bank stocks contributed to the excellent earnings performance of the operation of power grabbing Bank Of Chengdu Co.Ltd(601838) and investors made a lot of profits.
The reporter found in the stock bar that many investors are paying attention to this successful power grab operation.
It can be seen from the stock bar that investors are determined to win the upcoming Bank Of Chengdu Co.Ltd(601838) convertible bonds. At the same time, attracted by the success of power grabbing, we are aiming at the next target – Bank Of Chongqing Co.Ltd(601963) !
On February 28, the issuance examination committee of the CSRC examined the application of Bank Of Chongqing Co.Ltd(601963) publicly issuing A-share convertible corporate bonds. According to the audit results, Bank Of Chongqing Co.Ltd(601963) public issuance of A-share convertible corporate bonds was approved.
