BOC 40 billion convertible bonds approved by SFC

The Bank of China A shares 40 billion convertible bond issuance plan has no suspense.　　Last night, the SFC issued the Audit committee approved BOC 40 billion issuance plan, the source told us that the fastest one or two weeks in the bank will start the issuance of convertible bonds plan, slow it will take one months, which means that the BOC a-share market financing method can not changed. BOC 40 billion will be the largest convertible bond issue in China's capital market and will be the largest refinancing.　　With the issue, the allotment will immediately increase the stock supply, quickly diluted performance of different, convertible bonds on the stock supply, the performance of the dilution has a delaying effect, so the stock two-tier market impact is small. A direct participation in BOC Convertible bond issue plan of the investment bankers said to our correspondent, there is no procedural obstacles, now, such as the Development and Reform Commission approval, approval of a down, you can start the distribution plan.　　He said the one or two-week fast, BOC convertible bond issue can start, slow for one months. Analysts say that from the market capacity, the market is fully capable of accommodating BOC's 40 billion-dollar convertible bond issue.　　From the impact on the future development of the capital market, the issuance of BOC's convertible bonds will effectively enlarge the market capacity of convertible bonds, optimize the market structure and enhance the market activity degree.　　Currently also proposed in the A-share market in the issuance of convertible bonds and ICBC, ICBC is to issue a scale of not more than 25 billion yuan, it is not clear its plan and the timing of the proposed release. Analysts said that a-share convertible has "both offensive and defensive" characteristics, has long been favored by investors, it is learned that since 2009 in the A-share market issued 7 convertible bonds are also attracted to the larger subscription funds, in addition to the original shareholder priority placements outside the average subscription amount of more than 180 billion yuan, Zhejiang Longsheng, the original shareholder of priority placements outside the other investors subscribed to 408.232 billion yuan. In 2008, when the 30 billion yuan of Sinopec was issued, the total amount of investors subscribed was $2.2 trillion.