New shares broken mmmm securities companies to borrow partners to share the risk of shareholders

Securities Times reporter Zhang Weilin investors use their feet to vote a frequent break in the new shares, making the securities underwriting the open issue of the results of the project to "be shareholders."　　In order to resolve this dilemma, some brokerages intend to introduce strategic cooperation mechanism in order to prepare the peripheral funds in advance, and share the risk of future underwriting.　　For the Securities investment Bank, the present has to try to take part in the public offering projects, in order to maintain as far as possible the long-term relationship with the listed company customers, but this makes the main underwriter's securities companies into a "shareholder" dilemma. Statistics show that so far last year, a total of Wolong electric, state-owned electric power and Changan automobile and other three public offerings have appeared surplus underwriting.　　At the same time, up to now, the main underwriters held underwriting shares have fallen below the additional price, the book floating losses.　　According to the Securities Times reporter, in order to resolve this dilemma, a broker is currently designing a new mechanism, that is, to find a number of peripheral large funds side, and its strategic partnership, and in the directional additional, PE direct investment projects, market capitalisation management, bulk transactions across the one or two-tier market business for all-round cooperation. The main framework of this design is: peripheral large funds as contracted customers, according to the capital situation, as far as possible to undertake the various businesses given by the brokerage. For example, in the process of public offerings, strategic partners should fully cooperate with the underwriting projects by the broker, while the broker will commit to providing some quality projects and other resources to compensate the strategic partners for some business losses.　　In addition, the brokerage also agreed to and strategic partners agreed to the annual guaranteed profit indicators. According to people close to the brokerage, the brokerage move on the one hand, whether the market is good or bad, these strategic partners to undertake public projects, in order to avoid the embarrassment of the total hit in the hand, while sharing the risk on individual projects, on the other hand, with the fund, the investment bank is likely to undertake more projects,　　In order to leave listed company customers for investment banks.　　Some of the organizations are very interested in this model, and they believe that it is in this process of co-operation, although some projects may reduce their own part of the liquidity, but can be through PE direct investment and market value management. Many people in the industry believe that this mode of cooperation on the one hand stressed the financial strength of the capital side, on the other hand requires it to have across the one or two-tier market asset management capabilities. In the current situation of the flood of funds, the funds are still suffering from the project difficult to seek, if you can use the resources of securities brokers to achieve reasonable allocation of funds, not only in line with the interests of the funds, but also to achieve a win-demand side.