New countermeasures for the brewing of iron and Steel in Laiwu Steel Co., Jinan

"Everything can only be due to changes in the situation too quickly," the Jinan Steel (600022.SH) and Laiwu Steel (600102.SH) of the original merger plan is now encountering the plight of a close to Shandong Iron and steel Group of people like this sigh. The announcement of the merger of Jinan Steel and Laiwu Steel has been over 3 months.　　The resistance of Jigang's reorganization and merger has cast a shadow on the steel integration layout of the steel group. Wave, surging. "China Business daily" reporter from the Shandong state-owned people know, Shandong state-funded committee in the active promotion of Qilu securities by Shan Steel Group's shell in a A-share listing. Shan Steel Group has two shells to borrow, namely Luyin investment (600784.SH) and S*st Hua (000509.SZ). But a senior personage of s*st Hua Plastic told reporter, for qilu stock listed, Shan Steel Group is the first choice is the Qilu securities in a shares through IPO, followed by backdoor.　　So facing the Qilu securities, Luyin Investment and SST Hua Plastic, how will the Shan Steel group layout? The original plan encountered arbitrage problems this February 24, Jigang and Laiwu Steel announced the merger plan, that is, Jinan iron and steel through the exchange of shares in the merger of Laiwu Steel, Jinan iron and steel Stock exchange for the first time to consider the merger of the shares of the board resolution announced a 20-day trading day, a shares of the average price,　　That is 5.05 yuan per share, Laiwu Steel shares for 12.29 yuan per share, that is, the shares of Laiwu steel for 2.43 shares of Jinan iron and steel shares, the plan will be submitted to the shareholders meeting.　　In accordance with the above plan, in the not yet convened shareholder meeting, the shareholders of Laiwu Steel, which voted for the scheme, will continue to hold shares, while those who vote against it will exercise the option of cash, namely, the price of 12.29 yuan per share by Jinan Steel to acquire the shares of Laiwu Steel held by opposition shareholders. As of May 19, by the real estate regulation caused by the adjustment, a shares plunged, Laiwu steel shares have fallen from about 12 yuan to 7.74 yuan. "Nearly half of the arbitrage space of the stock price, if the original plan in the general meeting, the shareholders will choose to vote against, so that the Shan Steel Group for 12 yuan to buy their own stocks, and the vote when major shareholders must avoid, so the scheme will certainly be."　　"This is human nature," said Chopeta, an analyst at the Great Wall Securities and steel industry. "Now Shandong Iron and Steel Group is discussing the new countermeasures, the original plan has obviously not adapted to the current situation, the group may redesign a new merger plan, but the question is how the existing plan will be dealt with, by holding a shareholder meeting by the shareholders to veto, and then issued a merger plan?" Or is it handled directly by the regulatory layer or by the group? Here's a question of how to go about the process.　　"said one person familiar with the matter. Jinan Iron and steel of the Secretary of the late to reporters, about Jinan steel and LAIWU steel combination of the project is the capital department in charge of the group, as to the existing plan will deal with, only waiting for the Mountain Steel Group released a new passKnow。 "It is in fact advantageous for the Shan Gang group to formulate a merger proposal on the basis of the existing low share price." Chopeta said, "The lower the price of Laiwu Steel shares fell, the steel group used to acquire the stake in Laiwu Steel shareholders of the funds will be greatly reduced."　　"Next: The big financial sector?" Open the integrated map of the Shan Steel group, according to the "China Business newspaper" before the report ("Rizhao Steel Hong Kong listing, Shandong Iron and steel integration blocked", even if Laiwu Steel and Jigang successfully merged, Shan Steel Group still has jinling mining (000655.　　SZ), Luyin Investment (600784.SH) and S*st Hua (000509.SZ) four listed companies.　　According to the Shan Steel Group's integration plan, the first phase of integration is the steel plate of the reorganization of mergers and acquisitions, including the restructuring of Rizhao steel and steel and Laigang, and so on, the next is the financial sector and the mining sector to comb, one industry personage analysis way. To build a large financial sector, which is another layout of the mountain Steel Group Vision. In this section, Luyin Investment and Qilu Securities, as well as the newly established Shan Steel Group finance Company will play a leading role.　　It is understood that luyin investment and Qilu securities with the Shan Steel Group of Laiwu Steel shares of the holding enterprises. October 2010, the Shan Steel Group in Jinan by seven Wei two spend huge sums of money to build the financial building will be completed, the project is located in Jinan Financial Business center of the core area. "Now in the interior decoration stage, in 10 this year, the Shan Steel Group Finance Company, Qilu Securities and its Lu Zheng futures and other financial enterprises will be stationed in the financial building inside the office."　　A staff member of Qilu Securities told reporters.　　One of the Shan Steel Group Finance Company is this April 30, Shan Steel Group, Jigang, Laiwu Steel and Qilu Securities jointly invested 1.6 billion yuan set up, used to speed up the group's key resources and core business integration, unified financial management. To Luyin investment this shell, Shandong Iron and steel group reorganizes also sooner or later matter.　　According to the regulation of the listed company of the same controlling shareholder under the CSRC, it is the general trend to integrate the steel resources of Luyin investment, while Jinan iron and steel is the integrated platform of steel plate resources of the Shan Steel Group, and jinling Mining is the integrated platform of iron ore plate resources of the Shan Steel Group.　　The future of Qilu securities However, how to integrate Luyin investment is a difficult problem in front of Shan Gang group.　　January 21, 2010, Luyin Investment announced the original chairman Wei Youshan resigned, sent to the CFO of Laiwu Iron and Steel Group Co., Ltd., the current director of the Finance Minister Liu Xiangco for Luyin Investment chairman, which was considered by the market is the first step of steel plate integration. Open the history of Luyin Investment, in 2003, due to the serious loss of Qilu securities of wholly-owned subsidiary of Luyin Investment, in order to save the Luyin investment at the edge of the retreat, Shandong Sasac injected Luyin investment into the hot-rolled strip production line of the high quality assets of Laiwu Steel Group, replacing the Qilu securities, thus retaining the resources of the Luyin investment And that leads toLuyin Investment and Laiwu steel Group "dislocation", luyin investment to become a steel enterprise, Laiwu Steel Group is the main steel and securities financial business Group. To this day, the production line of hot-rolled steel strip continues to be placed in the investment of Lu Yin is not the overall situation, luyin investment in steel production line will return to Laiwu steel, the market looks forward to the Ninru Ban Investment chairman of the Liu Xiangco of the settled can vigorously advance this step, and if the Shandong Sasac plan to return the Qilu Securities to Luyin Investment,　　This is a live staged a "found". Since March 2008 Shandong Iron and Steel Group was established, Qilu Securities and Luyin Investment, s*st Hua-plastic between the gossip constantly, have been out of Qilu securities to borrow shell these two listed companies news.　　Because these three belong to the same club Shan Steel group, so the panqin between the left hand and the right hand, always let the investor have great imagination space. However, will Qilu securities borrow Luyin investment Shell to realize the listing? A person familiar with the matter expressed doubt. "In the shell resources of the Mountain Steel group, yet to be integrated is luyin investment and s*st Hua plastic, in accordance with the current situation, should be the first integration of Luyin investment, and then is s*st Hua-plastic, as for backdoor that must be in the integration, only after the shell clear before talking about trading shell things.　　The person said. For the Luyin investment integration that has not been seen, Qilu Securities can't wait. Since 2009, Qilu Securities have been recruiting at high prices around the high, happy Rodeo, to prepare for the IPO, now away from Qilu Securities in the "2007 ~2011 Development Strategy," the goal of the five-year listing is not much time. "Shandong Sasac has been trying to market the operation of Qilu Securities, in the first two years of time had thought about backdoor, later because of GF securities backdoor after resistance, brokerage backdoor was suspended by the SFC, so backdoor things come to an end." Now revisit the listing of Qilu Securities, according to the current situation, Qilu securities through the IPO is more likely, "said the close to the Mountain Steel Group senior people told reporters."