China Stock Exchange and bridge construction return to a-share

December 31, Road and bridge Construction (600263) Bulletin, the parent company will be in the share of road and bridge construction to absorb the merger, and issued a A-share return to the domestic capital market.　　In addition to the shares in the first public offering of a shares in exchange for share-building and road and bridge construction, the remaining shares will be used to raise funds for public investors.　　According to the plan, the road and bridge construction public investors can be held in the road and bridge construction shares of 14.53 yuan/share of the exchange price conversion into the equivalent of the shares of the first-share shares, the share of the exchange price is determined through the IPO inquiry. Specifically, the plan to the road and bridge construction shareholder protection will be mainly reflected in three aspects. First of all, the road and bridge construction exchange price than the period of suspension price premium. 14.53 yuan/share of the exchange price than its suspension before the 1st, 5th, the former 20th, the former 30th, the first 120 days and the first 250 days of the closing premium margin of more than 20%. Second, the valuation level of the stock exchange price is higher than the industry's valuation level. Some analysts said that the bridge-building exchange price for the 2009-year earnings ratio of 48.43 times times, corresponding to the end of 2009 per share of net assets of the market 3.2 times times. Finally, to give participation in the exchange of road and bridge construction of public investors in the next two-tier market profit opportunities.　　The exchange rate of stock exchange for the price of a A-share issued by the inquiry, the investment in the road and bridge construction in exchange for shares in the shares of the shares issued at the price for the shares of a shares.　　According to the plan, the public investors of the road and bridge construction can also exercise the cash option in whole or in part, the cash option provider will pay the cash price and the corresponding shares to the road and bridge construction investors who exercise the option of cash by 12.31 yuan per share. China Stock Exchange related personage to the Chinese Securities News reporter, the company has been brewing the plan for a longer period of time, is based on the consideration of mutual investors. First of all, for road and bridge construction of public investors set a more favorable conditions for the exchange of shares and protection mechanisms. In addition, the shares in the infrastructure construction, infrastructure design, dredging and equipment manufacturing business, such as the core business areas are in China and the world's leading position, the exchange of shares to absorb the merger, will be conducive to road and bridge construction of the original public investors share the future development potential of shares.