On March 2, Citic Securities Company Limited(600030) announced that the company’s H-share allotment was successfully completed.
It is worth mentioning that the effective subscription and additional effective application for Citic Securities Company Limited(600030) H-share allotment this time totaled 1.189 billion shares, accounting for about 348.21% of the number of H-shares available for allotment. Finally, Citic Securities Company Limited(600030) a shares raised a total of 22.4 billion yuan, H shares raised a total of 6.04 billion Hong Kong dollars (equivalent to about 4.93 billion yuan), and a + H shares raised a total of 27.3 billion yuan.
The reporter of the daily economic news found that it is also an indisputable fact that the performance of the securities industry is improving. According to the data released by China Securities Association on February 25, in 2021, 140 securities companies in the securities industry achieved an operating revenue of 502.41 billion yuan and a net profit of 191119 billion yuan, with a year-on-year growth rate of 12% and 21.3% respectively, Everbright Securities Company Limited(601788) pointed out that under the background of active and deep reform in the capital market, they are optimistic about the performance of the securities industry and consider positive factors such as business transformation, The profitability of the securities industry will rebound. At present, the valuation is at a low level and has configuration value. The industry’s “overweight” investment rating will be maintained.
additional rights issue winning rate of about 1.86%
On February 26, 2021, Citic Securities Company Limited(600030) issued the stock allotment plan. Both A-Shares and H shares are proposed to be allotted to all shareholders in the proportion of no more than 1.5 shares per 10 shares. The total amount of funds raised in this allotment does not exceed 28 billion yuan. The net amount of funds raised after deducting the issuance expenses is intended to be used to develop capital intermediary business, increase investment in subsidiaries, strengthen the construction of information system and supplement other working capital.
This is the largest allotment of securities companies in the history of a shares, which has attracted great attention from the market and industry. On March 1, 2021, the first trading day after the announcement of the allotment, Citic Securities Company Limited(600030) A-Shares fell sharply by 8% during the session and narrowed to 5.98% at the close. After that, Citic Securities Company Limited(600030) continued to go down, hitting a new low on April 28, 2021, down about 17% from before the announcement of the allotment.
In January 2022, the allotment of Citic Securities Company Limited(600030) A-Shares finally landed. According to the announcement of Citic Securities Company Limited(600030) issued on January 26, the A-share allotment finally obtained 1.552 billion shares, accounting for 97.17% of the shares available for allotment. This part of the allotment was listed and circulated on February 15.
after the allotment of Citic Securities Company Limited(600030) a shares, the allotment of H shares has become the focus of attention. According to the announcement of 60 Jiangsu Chuanzhiboke Education Technology Co.Ltd(003032) , the number of shares that can be placed for H shares this time is 341.7 million, and the actual number of shares placed is 341.7 million. Its H-share allotment payment ended on February 23, 2022. As of February 23, the company had received 25 valid subscriptions from H-share shareholders, and the actual subscribed shares were 325.6 million shares, accounting for about 95.29% of the number of H-share placeable shares.
In addition, Citic Securities Company Limited(600030) pointed out that the actual number of additional H shares that the company could allot was 16.098 million, and 16 valid applications for additional H shares were received, involving a total of 864 million shares. The effective subscription and additional effective application for H-share allotment totaled 1.189 billion shares, accounting for about 348.21% of the number of H-share placeable shares.
Therefore, in the additional valid application, 864 million additional H-share allotment Shares applied for were finally allocated according to the additional actual allotment of 16.098 million H-shares, with a winning rate of about 1.86%.
Although the list of investors applying for additional allotments has not been published, it can be seen from the number of shares they have subscribed that these investors should have considerable strength. It is the optimism of these investors that put a perfect end to the allotment of Citic Securities Company Limited(600030) H shares.
listed securities companies face refinancing pressure
Citic Securities Company Limited(600030) pointed out that the total amount of funds raised in the A-share allotment was 22.4 billion yuan, and the total amount of funds raised in the H-share allotment was 6.04 billion Hong Kong dollars (equivalent to about 4.93 billion yuan). In other words, Citic Securities Company Limited(600030) a + H share allotment raised a total of about 27.33 billion yuan. The cost of this A-share allotment (excluding value-added tax, including underwriting recommendation fee, lawyer fee, reporting accountant fee, information disclosure fee and equity registration fee) is RMB 77.48 million; The cost of issuing H shares (including underwriting Commission, printing, translation, legal and accounting expenses) is about 53.65 million yuan.
Citic Securities Company Limited(600030) before the completion of the allotment, it was already the leader of the industry. According to the performance express, Citic Securities Company Limited(600030) achieved an operating revenue of 76.57 billion yuan in 2021, an increase of 40.8% year-on-year; The net profit attributable to shareholders of listed companies was 22.979 billion yuan, a year-on-year increase of 54.2%; The basic earnings per share was 1.77 yuan, a year-on-year increase of 52.59%.
According to the statistics of China stock market news choice financial terminal, at present, Orient Securities Company Limited(600958) , Caitong Securities Co.Ltd(601108) , China Industrial Securities Co.Ltd(601377) have also announced the stock allotment plan. According to the current amount of funds to be raised, the total scale is 38.8 billion yuan.
In addition, the additional issuance plans of six securities companies are on the way, with a total ceiling of about 39.3 billion yuan.
Therefore, at present, the upper limit of the total funds raised by the allotment and additional issuance of listed securities companies is about 78.1 billion yuan, which means that listed securities companies still face certain refinancing pressure. In addition, unlisted securities companies are also scrambling to land in the A-share market in order to obtain a better financing platform.
At present, the IPO of Dongguan securities has been held, and capital securities updated the application draft of the prospectus in late January. On March 1, the website of the CSRC disclosed that Shengang securities entered the IPO guidance filing period and signed a guidance agreement with Huatai United Securities on February 22, 2022.
