Agency effective purchase rate 45% million horse cable popular subscription behind the differences

The second single IPO Zhejiang Wan MA Cable Co., Ltd. (hereinafter called the Million-horse cable) to determine the issue price of 11.5 yuan, although the market believes that new issues under the system pricing generally high, but still attracted 189 times times oversubscribed.　　Prior to the three gold in Guilin, the issue price of 19.8 yuan, the organization oversubscribed multiple subscription is 167 times times. Million MA Cable chairman Pan revealed that the agency's effective purchase in about 45%, showing differences between the agencies. "There are various views between organizations, and it is normal, I think it is a reasonable price, but also to the two-tier market reserve space." "and Shenzhen, a brokerage deputy vice-president told reporters," in the past, the IPO institutions can make a lot of money, now the agency to the high price of the newspaper, then in the two-tier market is certainly risky.　　"12.42 yuan ~14.89 yuan reasonable value range" given by the sponsor Ping An securities is a "compromise" compared to the price of 11.5 yuan. "Inquiry data show that the agency in the 11.5-yuan quotation is the most concentrated, the largest number of subscriptions, taking into account the issue of robustness, we think this price is appropriate." "A senior executive at Ping An securities investment banking department told reporters," in fact, the million horse is also very satisfied with the release, after all, than originally planned to raise 232 million more. "Ping An Securities investment banking Department of senior opinion, compared with the current two-tier market shares, 30.88 times times the issue of the issuance of P/E is really not low," but like the million-horse cable such as small plate stocks, open are likely to be fired very high, the organization's locking out, the hot money may　　"Public data show that the million-horse cable 2008 to achieve operating income of 1.616 billion yuan, net profit of 74.4939 million yuan, year-on-year growth of 10%." The market is suspected million horse cable financial untrue, "in the 2008 financial crisis, the copper price sat a roller coaster, each copper processing enterprises profit margins are very low, the inventory of impairment, basically the company's profits have been played out." Cable raw material Cost digestibility is copper, and copper processing enterprises highly correlated, why can million horse bao or growth?　　"Pan and other company executives explained that the company does not exist in the financial false, the company is" the use of "lock copper, hedging supplemented by the procurement strategy to circumvent the risk of copper price fluctuations." Ping An Securities investment banking department, a senior executive told reporters that the million horse cable can not be financial fraud: "If there is fraud, the SFC can not find out, but will not let our IPO on the floodgates."　　And we underwriters are not the company on the market is OK, two years must be guaranteed no trouble.　　An Anhui Securities Investment Management Department general manager assistant to reporters that the company missed the three gold medicine, the whole self-pressure is very large, has begun to adjust the strategy. "Before that three gold prices should not be so high, a bit off the fundamentals, we also suspect that the profit is not a bit of moisture, so the time to inquire about the conservative point." "The general manager assistant said," Really miss, we seriously reflect on a bit, although the price from the fundamental risk, but can not block the profit source of the self-employed, and if TA, we can notAccountable to the shareholders.　　"It is reported that the company's own department" after reflection, in the second single end not "Mashiqianti", in order to close to the issue of the price will be million horse cable won. "The third single we will certainly strive for, although the market price is overvalued, but may also be forward-looking." "IPO third, a more than the estimated price of 12.9-14.4 yuan, July 3 complete the inquiry."