Huaxi plans to place 100 million shareholder sea securities

Yesterday, Huaxi released asset replacement and related trading program, the company intends to set up the subordinate fine mills, thermal power plant assets, liabilities and Jiangyin Huaxi Special Textile company 75% stake in the large shareholder Huaxi group owned by the East China Sea Securities 100 million shares.　　Yesterday, the shares rose 8.96% to close at 9.49 Yuan.　　According to the bulletin, the company set out assets evaluation price of 320 million yuan, placed in the asset price of 398 million yuan, the replacement of 77.88 million yuan by the company to the West China group to pay a matching cash. It is reported that the East China Sea Securities since 2007 after the completion of the expansion of shares, the registered capital of 1.67 billion yuan, the end of last year's net profit of 81,900 yuan, the conversion of earnings per share of 0.49 yuan. Since 2006, the market has widely speculated that the East China Sea Securities will be listed through the backdoor, but the East China Sea securities have been denied. Subsequently, the company's chairman Zhu Komin said the East China Sea Securities plan in the second half of 2008 IPO.　　However, the market's dismal financing environment in 2008 has dragged the matter down, but its plans for listing remain unchanged. But no matter how the East China Sea Securities are listed, it will be a big boon for Huaxi, which now has a total market capitalisation of just 4 billion yuan. According to the data, if we refer to the average P/e ratio of 33 times times of listed brokerages, East China Sea after the listing of the price per share will be 16.17 yuan, then Huaxi's asset replacement completed, will be a net profit of 1.219 billion yuan, corresponding to the earnings of each share will be increased by 2.77 yuan; if the price per share of the East China Sea Securities IPO will reach 24 yuan, according to 49 times times the average price-to-earnings ratio of the three brokerages listed this year, Huaxi will be expected to make a net profit of 2 billion yuan. Corresponding earnings per share will be increased by 5.45 yuan! In the first quarter of this year, Huaxi's earnings per share were only 0.042 yuan.