Recently, the market continues to fluctuate, and the employee stock ownership plan has become an important means for listed companies to convey confidence to the market. Statistics show that since 2022, 41 A-share listed companies have issued employee stock ownership plans. Among them, Hengli Petrochemical Co.Ltd(600346) , the highest number of participants and the highest amount of planned purchase Sto Express Co.Ltd(002468) , Tiza Information Industry Corporation Inc(300209) ‘s employee stock ownership plan intends to buy the company’s repurchased shares at 1 yuan / share, which has attracted market attention.
ESOP released intensively
Recently, A-share listed companies have launched employee stock ownership plans and share repurchase plans to convey confidence to the market.
According to the data of choice financial terminal, since 2022, 41 A-share listed companies have issued employee stock ownership plans. Among them, there have been 8 since March. According to the published data, there are two companies raising funds of less than 10 million yuan, namely Shanghai Golden Bridge Infotech Co.Ltd(603918) and Tiza Information Industry Corporation Inc(300209) ; There are three companies with more than 1 billion yuan, namely Chongqing Zhifei Biological Products Co.Ltd(300122) , Jiangsu Eastern Shenghong Co.Ltd(000301) and Hengli Petrochemical Co.Ltd(600346) .
Hengli Petrochemical Co.Ltd(600346) 3 issued the sixth employee stock ownership plan and the plan for the controlling shareholders of the company and employees of its affiliated subsidiaries to purchase shares of the company on March 4 Hengli Petrochemical Co.Ltd(600346) this employee stock ownership plan obtains and holds the company’s shares through special financial products. The maximum amount of funds for special financial products is 7.38 billion yuan, and the maximum amount of shares purchased by the company’s controlling shareholders and relevant employees of their subordinate enterprises is 2.48 billion yuan. The purchase scale of the above two plans is nearly 10 billion yuan.
Hengli Petrochemical Co.Ltd(600346) this employee stock ownership plan covers a wide range, ranging from the company’s senior executives to ordinary employees who have worked in the company for more than 1 year (inclusive), and the total number of employees participating in the subscription is no more than 11000.
Everbright Securities Company Limited(601788) said that the purchase scale of nearly 10 billion yuan demonstrated the company’s confidence in development and injected vitality into the company’s growth. This ESOP is conducive to enriching the salary system of employees, establishing and improving the benefit sharing mechanism between workers and owners, and realizing the consistency of the interests of the company, shareholders and employees.
Companies listed on the Beijing stock exchange have also launched employee stock ownership plans. Changhong energy released the revised employee stock ownership plan on March 2, which shows that when the employee stock ownership plan is established, the total plan share is no more than 60 million, and the total capital is no more than 60 million yuan. It holds the shares of listed companies by subscribing for the shares issued by the company to specific objects, and the total amount of shares issued by the subscribing company to specific objects is no more than 60 million yuan.
low price transfer attracted attention
Recently, some listed companies have attracted much market attention due to the discount and low price transfer of employee stock ownership plans.
Sto Express Co.Ltd(002468) february 15 issued the first phase of the employee stock ownership plan, which will acquire and hold the company’s shares held in the company’s special securities repurchase account by means of non transaction transfer and other laws and regulations, with a total of no more than 19559900 shares, accounting for 1.28% of the company’s current total share capital. It is worth noting that the purchase price of repurchased shares under the employee stock ownership plan is 1 yuan / share.
As of January 15, 2021, Sto Express Co.Ltd(002468) through the special securities account for share repurchase, has repurchased 195599 million shares of the company through centralized bidding, with a total transaction amount of 236 million yuan and an average purchase price of 12.07 yuan / share.
On February 22, Sto Express Co.Ltd(002468) received the inquiry letter issued by the Shenzhen Stock Exchange, requiring the company to explain the basis and rationality of the determination that the price of the repurchased shares purchased in this ESOP is 1 yuan / share in combination with the amount of the repurchased shares withdrawn by the company, the price of the repurchased shares, and the discount of recent comparable cases in the market.
Sto Express Co.Ltd(002468) said that the pricing method and level of this ESOP is mainly to enhance employees’ confidence, fully empower and mobilize enthusiasm. At the same time, encourage the core backbone and promote the long-term sustainable development of the company.
Sto Express Co.Ltd(002468) is not an example 3 Jiangsu Guotai International Group Co.Ltd(002091) the 2022 employee stock ownership plan issued on January 26 also obtains the company’s shares held in the company’s special securities account for repurchase by means of non trading transfer and other laws and regulations, and the transfer price is 1 yuan / share Anhui Korrun Co.Ltd(300577) the employee stock ownership plan is obtained and held by the company through the transfer of shares repurchased at zero price through non transaction transfer and other ways permitted by laws and regulations, without the investment of the participants.
The purchase price of employee stock repurchase plan is also a discount Beijing Emerging Eastern Aviation Equipment Co.Ltd(002933) 3 the employee stock ownership plan released on March 1 shows that the upper limit of the total capital of this employee stock ownership plan does not exceed 252459 million yuan, and the price of buying back shares of the company is 6.28 yuan / share. As of the closing on March 14, Beijing Emerging Eastern Aviation Equipment Co.Ltd(002933) closed at 25.41 yuan / share. The purchase price of 6.28 yuan / share is equivalent to 24.71% of the closing price J.S.Corrugating Machinery Co.Ltd(000821) ‘s price for the purchase of repurchased shares under the ESOP is 50% of the average trading price of the company’s shares 20 trading days before the resolution of the board of directors on the ESOP is considered.
For the purchase of repurchased shares at a low price under the employee stock ownership plan, an executive of a listed company said in an interview with the reporter of China Securities Journal: “the employee stock ownership plan is a kind of equity incentive. By purchasing repurchased shares at a low price, employees can see the difference between the stock price and the purchase price in the secondary market, which can better improve employees’ participation enthusiasm.”
