The largest allotment of shares in the history of the securities industry was successful.
On the afternoon of 26, Citic Securities Company Limited(600030) announced the issuance results of A-share allotment. The number of shares subscribed by investors in this allotment is 1.55 billion, accounting for 97.17% of the total number of shares available for allotment. In compliance with relevant regulations, the issuance was successful.
The total subscription amount of investors is about 22.4 billion yuan, of which Citic Securities Company Limited(600030) China CITIC Co., Ltd., the largest shareholder, subscribed about 4.33 billion yuan and fulfilled its commitment. Citic Securities Company Limited(600030) originally planned to raise no more than 28 billion yuan, followed by the allotment of H shares.
A non banking analyst told reporters that the subscription of Citic Securities Company Limited(600030) allotment was a little higher than expected. Such a large-scale allotment can also have a subscription rate of 97%, which shows that shareholders recognize Citic Securities Company Limited(600030) . In recent years, the subscription rate of securities companies’ allotment of shares has ranged from 89% to 99%.
Citic Securities Company Limited(600030) will resume trading on the 27th (Thursday), which is also the ex right day of the allotment. The reporter roughly calculated that the share price of Citic Securities Company Limited(600030) after ex rights was 24.22 yuan, which was 5.76% lower than that on the date of equity registration. The securities sector fell 1.3% during the suspension of Citic Securities Company Limited(600030) ; Citic Securities Company Limited(600030) H shares rose 5.5%.
97.17% subscription ratio exceeded expectations
According to the announcement of Citic Securities Company Limited(600030) , as of the end date of subscription and payment for the issuance of this A-share allotment (January 25, 2022) Citic Securities Company Limited(600030) the effective subscription number of A-share allotment is 1.55 billion shares, accounting for 97.17% of the total 1.597 billion shares available for this allotment, It exceeds the lower limit of the subscription ratio that “the number of shares subscribed by the original shareholders does not reach 70% of the number to be placed” in the measures for the administration of securities issuance of listed companies issued by the CSRC, which is regarded as the issuance failure. Therefore, this Citic Securities Company Limited(600030) A-share allotment was successful.
“It’s better than expected. The subscription ratio of 97% is very high. After all, it’s a large project of more than 20 billion. Having this subscription ratio shows that shareholders are still optimistic about the future stock price of Citic Securities Company Limited(600030) .” A non bank analyst of a large securities firm told reporters.
According to the data of , since 2020, a total of 10 securities companies have completed the allotment. In terms of the subscription proportion of shareholders, it is roughly between 89% and 99%. The subscription proportion of Shanxi Securities Co.Ltd(002500) allotment is slightly lower, 89.68%. Tianfeng Securities Co.Ltd(601162) is 95.62%. Securities companies, including Hongta Securities Co.Ltd(601236) , China Merchants Securities Co.Ltd(600999) , Huaan Securities Co.Ltd(600909) , have a subscription rate of more than 99%.
The subscription rate of Citic Securities Company Limited(600030) 97.17% is not too high, but the scale of CITIC’s allotment and fund-raising is huge. In terms of scale, China Merchants Securities Co.Ltd(600999) ranks behind Citic Securities Company Limited(600030) , but the amount of share allotment and fund-raising of China Merchants Securities Co.Ltd(600999) is only 12.7 billion yuan, almost half of Citic Securities Company Limited(600030) .
According to the announcement, Citic Securities Company Limited(600030) A shares will resume trading on the 27th. The reporter noted that from the suspension of trading on January 19 Citic Securities Company Limited(600030) to the closing on January 26, the whole A-share securities sector fell by 1.3%. However, although the A-share securities sector is falling, during the suspension of Citic Securities Company Limited(600030) A shares, Citic Securities Company Limited(600030) H shares have risen by 5.5%. The resumption of trading on Citic Securities Company Limited(600030) 27 is worth looking forward to.
27 is also the ex right date of Citic Securities Company Limited(600030) allotment. According to the reporter’s rough calculation, the share price of Citic Securities Company Limited(600030) after ex rights is 24.22 yuan, which is 5.76% lower than that on the date of equity registration.
The reporter noted that although the 27th is the ex right day of Citic Securities Company Limited(600030) allotment, the allotment of Citic Securities Company Limited(600030) on that day cannot be listed and circulated. Citic Securities Company Limited(600030) announced that the listing time of the allocated shares of the A-share allotment will be announced separately.
Citic Securities Company Limited(600030) originally planned to raise no more than 28 billion yuan. At present, A-Shares have successfully raised 22.4 billion yuan. The next step Citic Securities Company Limited(600030) will start the allotment in Hong Kong shares. The capital allocation scheme of Hong Kong shares is to allocate 1.5 shares for every 10 shares at a price of HK $17.67 per share. The total amount of funds raised by H-share allotment shall not exceed RMB 4.935 billion.
the second largest shareholder increased its holdings of Hong Kong shares
The allotment of Citic Securities Company Limited(600030) Hong Kong shares has not yet begun, but the second largest shareholder has begun to increase its holdings.
On January 21, the information disclosed by the Hong Kong Stock Exchange showed that Guangzhou Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) increased its holdings of 3.1025 million Citic Securities Company Limited(600030) H shares on the market on January 18, at a cost of about HK $61.62 million. After this increase, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) accounts for 7.17% of the total share capital of Citic Securities Company Limited(600030) , and remains the second largest shareholder.
The average share price of this increase was HK $19.86 per share, and the latest closing price on January 21 was HK $21.5 per share. In August last year, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) issued the announcement of increasing its holdings, and the closing price of Citic Securities Company Limited(600030) H shares was 17.9 yuan. Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) the price of this increase cannot be regarded as the low price since the increase announcement, or even the relatively high price.
After the increase, the number of Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) H shares held by Citic Securities Company Limited(600030) increased to about 117 million shares, accounting for more than 5% of the total number of Citic Securities Company Limited(600030) H shares. The total number of Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) A shares and H shares directly and indirectly held by Citic Securities Company Limited(600030) has increased to about 927 million shares, accounting for 7.17% of the total share capital of Citic Securities Company Limited(600030) , and is the second largest shareholder of Citic Securities Company Limited(600030) .
According to the information of the top ten shareholders at the end of the third quarter of last year, Guangzhou Yuexiu Financial Holding Group Co., Ltd. held Citic Securities Company Limited(600030) 4.21% and Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) 2.05%.
The increase of Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) holding Citic Securities Company Limited(600030) was carried out according to the original plan. On August 5, 2021, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) announced that in order to consolidate its major shareholder position in Citic Securities Company Limited(600030) , based on independent market research and judgment, the company or its holding / wholly-owned subsidiary plans to further increase its holdings of Citic Securities Company Limited(600030) shares with no more than HK $2.3 billion (including its own amount) or equivalent RMB.
As early as January 2020, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) and its subsidiaries delivered 100% shares of Guangzhou Securities Co., Ltd. (renamed Citic Securities Company Limited(600030) South China Co., Ltd.) to Citic Securities Company Limited(600030) and its wholly-owned subsidiaries, and received 809867629 A shares issued by Citic Securities Company Limited(600030) in March. In the first quarter of 2021, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) increased its holdings of Citic Securities Company Limited(600030) 106494000 H shares through the Shanghai Hong Kong stock connect.
At that time, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) directly and indirectly held Citic Securities Company Limited(600030) 916361629 shares, accounting for 7.09% of the total share capital of Citic Securities Company Limited(600030) , and was the second largest shareholder of Citic Securities Company Limited(600030) .
Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) said in the announcement that Citic Securities Company Limited(600030) operates steadily, and ranks first in China’s securities industry in terms of total assets, net assets, operating income and net profit in 2020. It is expected that this increase in shareholding will consolidate the company’s major shareholder position in Citic Securities Company Limited(600030) , optimize the shareholding allocation of Citic Securities Company Limited(600030) , and bring a relatively stable return on investment to the company.
It is understood that the increase period of the HK $2.3 billion increase plan is until December 31, 2022. The implementation subject, implementation method, implementation time, unit price of shareholding increase and other specific matters shall be decided by the operation and management of the company according to the market conditions.
The reporter looked through the records of changes in Citic Securities Company Limited(600030) H shares’ equity and found that this was the first increase in H shares since the announcement was issued in August last year.
Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) the Citic Securities Company Limited(600030) H shares increased this time can participate in the allotment of H shares in the near future. Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) currently holds Citic Securities Company Limited(600030) A shares and H shares directly and indirectly, with a total of about 927 million shares. According to the allotment rules, Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) will receive about 140 million shares. Even if all are calculated according to the A shares with cheaper allotment price, 140 million shares, 1.443 billion yuan per share, and at least 2 billion yuan is required for full subscription. Guangzhou Yuexiu Financial Holdings Group Co.Ltd(000987) previously, the amount of shareholding increase plan was HK $2.3 billion.
