Backed by photovoltaic giants and popular themes, long22 convertible bonds, a scarce new bond that attracts tens of millions of investors, have been abandoned by a large amount?
According to the announcement of issuance results released on Longi Green Energy Technology Co.Ltd(601012) 11, long22 convertible bonds were purchased and abandoned online, with a purchase amount of 50252 hands and 50.252 million yuan.
recognized “big meat stick”
Long22 convertible bonds with a scale of 7 billion yuan were issued at the beginning of this month, adopting a combination of priority placement and online issuance.
As a convertible bond issued by photovoltaic giant Longi Green Energy Technology Co.Ltd(601012) , long22 convertible bond is regarded as a scarce variety in the convertible bond market and is generally optimistic.
Longi Green Energy Technology Co.Ltd(601012) is the world’s largest monocrystalline silicon manufacturer and has expanded its component business. According to Guotai Junan Securities Co.Ltd(601211) Research Report, in the supply of convertible bonds in the field of silicon wafers and components, the subject of Trina Solar convertible bonds, which is in a similar track and leading position, has a conversion premium rate of about 25% on the first day of listing and a closing price of 142.99 yuan on the first day.
The agency said that considering that the positive stock Longi Green Energy Technology Co.Ltd(601012) is the leading target of photovoltaic circuit scarcity, it is conservatively expected that the first day price of long 22 convertible bonds is 125-130 yuan, so it is recommended to actively apply for the purchase.
Tianfeng Securities Co.Ltd(601162) according to the research report, the long 22 convertible bond has a large scale, high debt bottom protection, and the parity is higher than the face value. The market may give a premium of 44%, and the listing price is expected to be about 150 yuan.
Recently, the convertible bond market is hot. Data show that since December 2021, there have been 15 newly listed convertible bonds in Shanghai and Shenzhen markets, with an average increase of 31.45% on the first day. The price rise in the secondary market has made the application for new bonds a rare opportunity to grab chips at a low price.
According to the Longi Green Energy Technology Co.Ltd(601012) announcement, the number of effective subscription accounts for the online issuance of long 22 convertible bonds reached 11.29 million, and the number of new accounts participated in the convertible bond market created a new record. The winning rate is as low as 0.024%, and only one of the average 5000 households wins the lot.
abandoned purchase of more than 50 million yuan
It is puzzling that some of the “lucky people” who won the lot abandoned the purchase in the face of readily available income.
According to Longi Green Energy Technology Co.Ltd(601012) announcement, the number of online subscription and abandonment of convertible bonds is 50252, and the amount of abandonment is 50.252 million yuan.
Market participants speculate that there may be several reasons for abandoning the purchase: first, it is really not optimistic; Second, forgot to pay; Third, the balance of the subscription account is insufficient. Relatively speaking, the latter two are more likely. In addition, the issuance scale of long 22 convertible bonds is large. Even under the same probability of abandonment, the amount of abandonment will be more than that of small cap convertible bonds.
timely payment is required after winning the lot
The abandonment of convertible bonds has become a common phenomenon.
According to the data, from 2020 to 2021, 344 convertible bonds were underwritten, mainly due to abandonment of purchase and a few due to insufficient subscription. Compared with the current 415 existing convertible bonds, this proportion is not small.
However, under normal circumstances, the amount of convertible bonds issued on a large scale is often larger than that abandoned by investors.
Data show that among the convertible bonds issued in the past two years, the repurchase scale of Shanghai Bank convertible bonds is the largest, about 580 million yuan. In addition, for the music and song convertible bonds with a winning rate of as low as 0.0002%, the winner can be said to be the lucky one of “half a million”, and also abandoned the purchase of about 190000 yuan.
If it is because of forgetting the payment and missing the “big meat sign”, wouldn\’t it be a pity?
(source: China Securities Journal)
