120 Companies Intend To Issue Additional Financing 327 Billion 800 Million Yuan

WIND statistics show that as of April 20th, 120 listed companies disclosed plans for the issuance of additional shares in 2011. The scale of financing was as high as 327 billion 877 million yuan, 3 times higher than that of the same period last year. Among them, there are 17 chemical industry listed companies and 12 pharmaceutical and biological listed companies.

Shanghai motor (600104) is currently offering the highest financing amount for listed companies, and the estimated capital raising is estimated at 28 billion 564 million yuan. China heavy industry (601989) expects to raise 12 billion 440 million yuan. In addition, Beijing listed banks (601169), China north car (601299) and Poly Real Estate (600048) are over 10 billion listed companies.

Shanghai motor intends to issue 1 billion 728 million shares at a price of 16.53 yuan per share, and raise funds to buy SAIC Group's controlling stake in SAIC, which is engaged in independent parts business, service trade business, new energy vehicle business related equity and other assets. And China heavy industry is also the main shareholder of the private placement of the purchase of 6 ships, such as heavy ship shares.

After the central bank raised the deposit reserve rate several times this year, the pressure of bank funds increased sharply. Minsheng Bank (600016) has previously launched a 21 billion 500 million yuan private placement financing scheme, but was resisted by minority shareholders. Subsequently, the company adjusted the financing plan to a new convertible bond plus H-share issue issued by A shares with no more than 20 billion yuan. Meanwhile, Minsheng Bank also issued 10 billion yuan subordinated debt.

Statistics show that in the same period of 2010, there were only 40 listed companies offering additional capital, and the scale of raising funds was 81 billion 446 million yuan. Of the 120 listed companies listed above, only 18 companies chose the mode of public issuance. The remaining 102 enterprises were all private placements, and 120 companies added a total of 35 billion 770 million shares.

Market participants believe that rising interest rates and deposit reserve ratio pressure on the capital demand of listed companies, making the demand for refinancing of listed companies surged this year than the same period in 2010.

From the point of view of raising funds, expanding the scale of production capacity has become the main purpose of enterprise financing. The fund raising enterprises are mainly concentrated in the chemical and biomedical industries, such as bartian shares (002170). In addition, building materials and automobile industry are also prominent, such as Shun Electronics (002138). Investing in new projects is also an important reason for the refinancing of listed companies. In addition, a major asset restructuring is also a reason for the refinancing of listed companies, such as ST Gan (000576).

It is worth noting that supplementary capital has also become the main reason for the refinancing of listed companies this year, focusing on equipment manufacturing, such as Liugong (000528) and Tongyu Heavy Industries (300185).