Anxin Trust to suspend suspension of Citic Trust backdoor "out of the window"?

Source: Internet
Author: User
June 2 and June 3, Letter of trust (600816. SH) 's two suspension announcements may indicate that Citic trusts "anxin" the trust issue.  According to people familiar with the matter, the trust was suspended to discuss the continued promotion of CITIC Trust backdoor matters. The company, who participates in the Citic Trust's restructuring trust, said the suspension would discuss how to proceed with the next restructuring, but the specific plan is not yet established.  Due to the long delay, the market environment has changed a lot, how the Citic Trust to the Anxin Trust restructuring how to continue, the need for full communication.  The reason for the delay of more than three years, the person said, mainly because of the relevant listed companies in the proceedings, but at present, the relevant proceedings have been completed. In fact, Citic Trust to borrow Shell Trust trusts began in the end of 2006. On the November 24 of that year, the letter of trust began to suspend trading.  January 12, 2007, the Trust and China Citic Group (hereinafter referred to as "Citic Group"), Citic East (Group) Co., Ltd. (hereinafter referred to as "Citic East"), Shanghai State Investment Development Co., Ltd. (hereinafter referred to as "the Shanghai State") signed the "Letter of intent on share subscription." The Anxin Trust intends to issue shares to Citic Group, Citic East China and now the largest shareholder, Shanghai state, in the form of non-public offerings. Citic is subscribed to 80% per cent of its Citic Trust, Citic East China, with a 20% per cent stake in its Citic Trust, and the Shanghai State is subscribed in cash.  After the issuance of the shares, Citic Group is expected to become the first major shareholder of the trust trusts, while the trust holds a 100% per cent stake in the Citic Trust.  August 23, 2007, the trust letter said that the Ministry of Finance has agreed on the principle of Citic Group and Citic East China Citic Trust stake in the purchase of trust trusts non-public orientation of the issue of additional shares, and the relevant provisions of the State for the evaluation of assets and state-owned equity management program approval procedures. After three consecutive extensions after the signing of the shares subscription letter of intent, in December 2007, the Trust Board of Trustees also finally determined that the private offering price of 4.30 yuan, the number of the proposed non-public offering is not more than about 1.362 billion shares.  Among them, Citic Group for its holdings of Citic Trust 80% of the subscription does not exceed about 970 million shares, Citic East China's holdings of its Citic Trust 20% stake subscription does not exceed about 242 million shares. By June 2008, the CSRC and the China Banking Regulatory Commission (CBRC) had agreed to the reorganization plan with conditions or principles. Since then, the trust has not received the CSRC's written approval documents.  So far, the purpose of the Citic Trust's proposed backdoor trust to be listed has not been realized. Yesterday morning, the reporter has called the Anxin Trust public contact telephone to confirm the above matters, but the other side phone has been in a busy state.

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