Lai Steel arbitrage opportunity was snubbed 34.75% profit space remains suspense

It is the basic prerequisite to get the existing stock Exchange plan approved.　　An obvious risk-free arbitrage opportunity has not yet been recognized by the market. Laiwu Steel shares (600102. SH), Jinan Iron and Steel (600022.　　SH) Exchange-stock absorption plan has been 4 months, but the market for the exchange of cash options in the right and market risk-free arbitrage opportunities for the pursuit has not been high.　　July 5 afternoon, with Laiwu Steel, Jigang LED steel stock protection, this risk-free arbitrage opportunity once again aroused the market's high concern. According to the Stock Exchange plan, Jinan iron and steel Stock exchange price of 5.05 yuan/share, Laiwu Steel shares of the exchange rate of 12.29 yuan/share.　　At present, the price of Jinan steel is 3.72 yuan, the price of Laiwu steel is 9.12 yuan, both of which exist theoretically arbitrage space. "The choice of Laiwu steel is safer," a broker-dealer told reporters. Because of the stock Exchange plan, it is clear that the Shan steel and Jigang of the dissident shareholders of the cash payment responsibility, also stipulated the price, and Jinan iron and steel provisions are incomplete. In addition, generally speaking, the replacement of the party is often more attractive capital, plus LAIWU steel itself is the head of H-beam, assets are also stronger than Jigang, Laiwu steel rose before it is not difficult to understand. "With the closing price of Laiwu steel on 5th, if the cash option is exercised, there is a 34.75% risk-free arbitrage opportunity for investors." "This opportunity can only be said that the existing plans to successfully pass the case can be set up." "The above people remind," at present the stock price is already low, whether Shan steel will bring out so much money to change shares is a problem. "April 2009 Pangang Department integration has led to steel vanadium (St vanadium titanium) Day line out of horizontal form, always around the exchange price fluctuation of a penny around." However, Laiwu Steel, Jinan Steel in the release of the plan after the move to the bottom of the share price, set aside the above "risk-free arbitrage" space. The above-mentioned personage said this and steel overall situation is not clear about, "after all, steel is the upper reaches of the real estate, iron ore downstream, this year both the situation is not good, steel clip middle profit is compressed, so did not get the approval of funds." ”