2 years of directional issue of additional time to change the country investment in Shaanxi and Minsheng Bank without fruit and end

Source: Internet
Author: User
Keywords Minsheng Bank Shaanxi state investment directed distribution
Cleaning up industrial assets to support trust business embarrassing task-Our correspondent Lu Dong a day ago, with the China Securities Regulatory Commission to terminate the examination notice sent to Shaanxi state investment A, was hailed as the first domestic trust listed companies and listed banks between the strategic cooperation program officially declared "failed." As the cooperation party Minsheng Bank unilaterally announced the termination of cooperation, Shaanxi investment in a plan to the Minsheng Bank Non-public offering of stock options.  The two-year long "silver letter" cooperation failed to result, which also marked that the Shaanxi state investment A to introduce financial strategic investors, so as to expand the business space of the good vision finally failed. "We just saw the Minsheng bank in the prospect of buying the company stock, now two years, but in exchange for a blank." "A Shaanxi investment a investor to the securities daily Reporter said," At present the company has fallen through, the stock price is also the highest 30 yuan to shrink more than 60%, the company will rely on how to return investors trust?  The investor complained to reporters. In the search for strategic investors at the same time, Shaanxi investment in the clean-up of industrial investments are still not fully implemented, and if not quickly cleaned up, fear of the relevant regulatory authorities to punish.  It is noteworthy that the Shaanxi state investment in a subordinate real estate company is still its main source of income, once transferred out, this has been the decline of the company's performance will be worse. "Marriage" negotiations two years without fruit and eventually market changes Minsheng Bank "Hide-and-seek" as a trust listed company of Shaanxi state investment A, and the same as the listed company's Minsheng Bank "marriage" began two years ago. September 2007, Shaanxi state investment A and Minsheng bank signed the "Share subscription contract" and "strategic cooperation agreement." Minsheng Bank to subscribe to the Shaanxi state investment in the Non-public offering of a private shares 143 million shares, the subscription price of 16.38 yuan per share, the payment amount of about 2.34 billion yuan. After the completion of the issue, Minsheng Bank held in Shaanxi state investment not less than 25.04% of the shares, the company is the first major shareholder in Shaanxi Expressway Construction Group to reduce the appropriate way, Minsheng Bank will become the Shaanxi state investment a tie large shareholder.  The two sides ' strategic cooperation programme was first approved by the CBRC in March 2008. Minsheng Bank intervened two years ago in Shaanxi to invest in a directional additional, it is a major expansion of the intermediary business to increase the benefits of an important link, and Shaanxi investment A will also strengthen the company's capital strength. As the two sides signed the agreement coincided with the rapid development of China's capital market, the cooperation between the two sides clicked. In the next two years, however, the perfect plan for "bank-Enterprise cooperation" has been unable to advance due to the upheaval in the financial environment.  May 11, 2009, Minsheng Bank for the "domestic capital market changes", its continued implementation of strategic cooperation there are great difficulties, and decided to terminate the subscription of Shaanxi state to vote a-share rights. Although Minsheng Bank for this "fleeing" the reason language is ominous, but the market all parties believe that the main reason for the termination of the directional issue is the Shaanxi state investment in a large drop in price. Before signing the agreement two years ago, Shaanxi state investment in a-share price is still 20 yuanAbove, followed by this good news is to dash to 30.60 yuan of this historical highest position. In the securities market in the past two years, the overall downturn in the environment, Shaanxi investment in a share price has shrunk sharply. As of yesterday's close, only 11.39 yuan, the price of the higher than the highest price shrank by more than 60%, but also compared to the two fixed 16.38 yuan subscription price reduced by nearly five yuan. In other words, according to yesterday's Shaanxi investment a closing price calculation, Minsheng Bank to obtain 143 million shares to pay only 1.629 billion yuan, but if still agreed at the time of the 16.38 yuan/share subscription, Minsheng Bank must pay at least 713 million yuan, this is obviously Minsheng Bank does not want to see.  Minsheng Bank in the media interviewed also said that the suspension of the strategic cooperation with the Shaanxi State, indeed with the two-tier market fluctuations since last year. The reporter yesterday called the Shaanxi State to vote a securities market department head Sun Yijuan, to whether because the price cut led to the issuance of a failure, she did not make a clear statement, but stressed that the letter in the Minsheng bank note-that is, the capital market changes prevail.  Some trust insiders said that the mutation in addition to price factors, in the context of the financial crisis, the bank is more concerned about the capital adequacy ratio and other factors related to the stability of the business, the development of new businesses have to be shelved. Shaanxi Investment A has in its 2008 report explicitly will increase capital holdings, the introduction of strategic investors to set the top priority for 2009 years.  Now half a year has passed, with the departure of Minsheng Bank, Shaanxi investment in the introduction of a strategic investors can be announced as the company's rapid advance this year, as soon as possible, there will be a great variable. Cutting non-trust assets Shaanxi State investment or unemployment pillar for just suffered from the directional additional no fruit hit A, there is also a major event is the company's top priority, that is, despite the completion of industrial investment clean-up.  According to regulatory policy, the company should clean up the industrial investment by the end of 2008, but due to the difficulty of cleaning up, this work has still not been cleaned up. It is understood that if Shaanxi investment a can not be completed by the end of June to clean up the subordinate two real estate companies and a property management company, the company or by the regulatory authorities of the corresponding punishment. and Shaanxi state investment A clearly also means to the urgency of cleaning up the real production work is on the move.  According to the company's announcement, the company's board of directors decided to the controlling shareholder of Shaanxi Province Expressway construction Group, with 24 million yuan transfer of Shaanxi high-speed mechanized engineering company 36.08% shareholding, this is the Shaanxi state investment in accordance with regulatory policy requirements and clean up the new measures of industrial investment. Although Shaanxi state investment a continued to clean up the industry, but this will touch on the important source of corporate performance-real estate income. In Shaanxi state investment in the 2008-year operating income of the industry data, the company's real estate industry income of 158.5341 million yuan, and this amount accounted for the proportion of its total income of up to 79.41%. Obviously, the income of the trust business is still difficult to support the performance of the company independently. In the investment in Shaanxi as the main business of the trust industry fell 27.68% Year-on-year, the company's real estate revenue has achieved a year-on-year growth of 48.69% of the good situation, the industry forThe support of the company's performance shows. Therefore, although Shaanxi investment in a trust business gradually expand, but in the trust business benefits and scale is still not in the circumstances, the loss of Minsheng bank into and clean up the real estate will undoubtedly make the company performance loss of important pillars, Shaanxi state investment A This year's performance is difficult to optimistic.
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