Datang Telecom's additional price increases nearly one to 16.49 yuan/share

Every reporter Song Yuandong first original issuance scheme shrink, then the big shareholder simply exit, the next issue price significantly up ... As the "Daily economic news" Prior to the pre-sentence (see March 3 this newspaper, "Datang Telecom major shareholders out of the issuance of the issue of subscription or move up the" article), Datang Telecom (600198, closing 18.74 yuan) announced today (April 7) that the Board of directors had approved a motion to change the non-public offering of shares.　　One of the additional reserve price from the original no less than 8.70 yuan/share significantly up to 16.49 yuan/share, the increase of nearly 90%. Datang Telecom today launched the latest version of the private issue of additional plans. The proposal shows that the company intends to add more shares to not more than 10 specific investors, the issue of pricing benchmark date for the board resolution Day, that is, April 7, the price is not lower than the benchmark date of 20 trading days of 90% of the average stock exchange, that is, not less than 16.49 yuan/share, the number　　Proposed to raise funds 474 million yuan, the investment project includes 3G Smart card, Bank EMV card, TD-SCDMA data fusion products, such as 3 projects. Talking about Datang Telecom's additional scheme is twists. As early as May 2009, Datang Telecom issued a non-public offering plan, issued a ceiling of 140 million shares, the issue price is only 8.70 yuan, raise funds not more than 1.2 billion yuan, in addition to the above 3 projects, but also includes a repayment of bank loans project. Among them, the repayment of bank loans required to raise funds up to 700 million yuan. A person familiar with the matter said to the daily economic news that because the agency considers that this plan has "water injection" suspicion and is not interested in the issue, in this case, the company's major shareholder telecommunications science and Technology Institute in order to hold the stock price, stable "morale" and participated in the issuance of more than 10% of the proposed subscription.　　Unexpectedly, as the market warmed up, as one of the concept of networking, Datang Telecom stocks rising, the stock price climbed to 22 yuan. In order to ensure the smooth adoption of the supervision of the issue of the audit, last December, Datang Telecom issued a revised announcement of the relevant issues, will repay the bank loan project cancellation, the number of shares also slashed to no more than 52.9 million shares, raise funds to reduce to 460 million yuan. However, the move led to a strange "rebound" of major shareholders: February 26, Datang Telecom Institute of Communications said that, in view of the Datang Telecom Board has decided to adjust the issuance scheme, will be the original bid for the bank loan repayment project canceled.　　As a result of the above changes, the Institute and Datang Telecom signed the last year's non-public offerings related to the subscription conditions have changed significantly, has been unable to achieve the original agreement, and decided to cancel the subscription agreement, no longer participate in the subscription of Datang Telecom non-public issues of shares. "Such a high discount rate of additional, the major shareholder actually do not participate!" "Last night, in the face of the new issue, a Shanghai brokerage researcher to the daily economic news, said, now finally understand the intention of large shareholders withdrew from the issue, its exit is a double----both for listed companies to move up the price of aAn excuse to avoid the high price of additional. However, if you want to raise capital, you should come up with a market-approved project. Whether the market will be willing to participate in the issue of the share price is still to be seen.