Chang ' an auto public offering of additional cold underwriting group under the package nearly 30%

Issue before the closing price below the IPO price, so that the outside is very pinched a Khan Chang ' an automobile (000625, the former closing price of 9.64 yuan) today (January 14) announced the results of public offerings, the stock will be a duplicate today.　　The market is not expected, although the company raised 3.5 billion yuan in capital, but as much as 28.51% of the additional shares are underwritten by the underwriting group.　　Exposure to public offerings according to the previous announcement of the "offer of interest", the Changan motor plan through public offerings to raise not more than 4 billion yuan, the issue of the number of shares issued by the CAP is finalized for the issuance of the total share capital of 20%, namely 466 million shares, the issue price of 9.74 yuan/share. The unexpected is that, near the issue of additional, Changan car encountered embarrassment. The official purchase of Chang ' an automobile two market yesterday.　　January 10, the company for the issue of Online Roadshow, the same day Changan car price below the additional price, the same day the shares reported in 9.64 yuan/share, the distance of the additional price has 0.1 yuan space. From today's announcement of the release results, Chang ' an auto this public offering has suffered investors to vote with their feet.　　The company actually issued 360 million shares, the total amount of fund-raising for 3.51 billion yuan, compared to the target set the ceiling of 23% and 12% respectively. Whether online or under the net purchase, the proportion of the distribution is 100%, visible public offerings of the downturn.　　360 million shares in the new shares, 11.24% for online distribution, participation in the online purchase of the number of shareholders 3051 households, and Changan motor three-quarter-a-share shareholder number has more than 190,000 households. Although the purchase of the network under the total distribution of 60.25%, but one of Changan automobile holding shareholder Changan Group subscribed to 100 million shares, in the total distribution of the proportion reached 27.8%; the remaining 7 supporters of institutional investors also have a connections,　　With Changan Group and Weapon Equipment group, the Weapons equipment Group Financial limited liability company to take out 340 million yuan to be allocated 35 million shares. Underwriting group Underwriting nearly 30% but the most surprising is still behind. The new shares of Changan Motor, 28.51% of the shares (103 million shares) by the underwriting group underwriting. Although this ratio is less than last year in Wolong Electric (600580, closing 16.06 yuan) 97% of the additional shares by the Securities dealers underwriting, but not low.　　Recently, the state-owned electricity (600795, closing price 3.02 yuan) 3 billion shares in the issuance of shares of 8.41% were led by UBS Securities Underwriting Group underwriting. The Changan car underwriting group by CITIC Investment led the organization, underwriting will consume about 1 billion yuan of funds.　　In this calculation, Chang ' an, the additional controlling shareholder and its brother company solved 37.7%, the underwriting group digested 28.51%, and the remaining investors subscribed only 33.8%. Some researchers said that the auto industry in this year will be from high-speed growth to smooth development is the main reason for the expansion of Changan car, the car market this year will be clearly from the seller's market to the buyer. In addition, overcapacity worries are emerging, a few years ago a lot ofThe entire vehicle enterprise expands the capacity positively, also will gradually enter the release period from this year. Chang ' an automobile as one of the four major automobile groups, although with the scale advantages, but the majority of the investment project for the production line and core parts of the expansion, it takes 5-6 years to reach production, time is too long, there is the risk of not achieving the expected benefits after production.