Seizing the "first day": Securities dealers prepare for the gem

This reporter Li Vi shenzhen to report the gem into the substantive operation of the stage, a number of gem sponsor body ushered in sleepless night. "The high-intensity preparation has been going on for some time.　　"July 21 morning, the preparation of the first batch of enterprises to report the project Merchants Securities investment bank staff to reporters very excited said." "The company currently has 9 projects ready to report to the first batch.　　"July 21 Noon, the head of the Joint Securities Investment Banking Department said.　　July 20, the China Securities Regulatory Commission issued a notice that from July 26 onwards, will formally accept the GEM issue application. Although the vice chairman of China Securities Regulatory Commission Yao July 14 in the "Gem Issue Audit Training Symposium" said that the sponsor of its Gem Project declaration does not have to rush the first day, but according to our correspondent statistics, located in Shenzhen, three to be good at the securities brokerage-securities, investment securities,　　Joint securities are expected to report 10 or so items in the first instalment and will be reported on the first day of unequal projects. Joint securities investment bankers to rush in the first batch of the explanation is: "The first batch will soon be listed, 3 months or so, if the first batch is not reported, the year will be a big uncertainty."　　"The first day" of a sudden surprise attack on the regulatory floor, the many investment bankers who prepared the material by surprise.　　Under the SFC's arrangements, the issuer will be accepted for the initial public offering of shares and listing on the gem in accordance with statutory requirements and procedures on July 26. A spokesman for the Securities and Futures Commission said the first day was 9 o'clock to 17 o'clock.　　Will apply for the first day of processing in Sunday, mainly consider the first day of application may be numerous, in order to ensure the smooth and orderly handling of the work.　　At the same time, in order to prevent congestion, for the first day of submission of applications, do not distinguish between the acceptance of materials to arrange the audit sequence.　　On July 14, "Gem Issue Audit Training Symposium", the vice chairman of the China Securities Regulatory Commission Yao said that the time to accept the Gem declaration materials for the July low or early August. "The company's original plan was to prepare the materials to be processed at the end of July (IPO applications), and then to prepare them in accordance with the July 27 processing time."　　The investment bankers said.　　According to China Securities Investment bank, usually IPO, after restructuring, counseling, production of application materials, the core, declaration and other links, from restructuring to reporting, if completely smooth, can be completed in 6 months, after the declaration by the regulatory level of the audit speed and release rhythm control time.　　At present, many of the domestic sponsoring agencies hand in the first batch of reported projects have gone through restructuring and mentoring process, from the prospectus, the application materials began to ask for advice, to change the prospectus, the company's core department, the application for counseling and acceptance, production of declaration materials, to the prospectus and the official manuscript of the application materials, there are still unfinished steps. There are three main deficiencies in the present reporting materials. "In the opinion of the sponsor, one may be that the material is not prepared adequately, such as prospectuses, audits, etc.Third, the company's internal processes, such as the organization of internal core time, the project if not a week ahead of schedule, may not be the first batch.　　Even before July 26, according to the SFC required "ready materials" reported, may not be able to catch up with the first batch of listing.　　According to a number of securities investment bank executives estimated that the first day about 50 reported, if not the project, actually constitute the first batch, and this batch of projects will be in October low or early November listing.　　The above-mentioned joint securities sponsor explained that "the first day of the project is not sorted, will be regarded as the first batch of the SFC, but if the sponsor body to declare the number of more than one, then the internal to its declaration of enterprise number sorting, and in the sort of documents stamped company seal, for the supervision of the reference "If the first day is not reported, the probability of not coming out this year will be very big."　　"The above investment banking staff affirmed the views of the peers.　　However, there are securities brokers optimistic about the estimate, even if the next day reported, may not have no hope, "to catch materials may appear hundred secret sparse."　　The audit process does not simplify the audit process for the previous High-profile gem, most people think the gem should be simpler than the motherboard, but in the regulatory review process, and not reflected.　　On July 14, "Gem Issue Audit Training Symposium", the SFC related to the audit arrangement of the description of the company should be the issuer of the board of Directors and shareholders of the General Assembly process, followed by: Declaration, acceptance, meeting (feedback), first instance, issued trial.　　It is noteworthy that, after recommending the project, the gem will seek the advice of the local government, that is, the relevant departments of the Securities and Futures Commission, after accepting the IPO application materials, send letters to the local people's government to solicit opinions on the issue of stock issues, so that local governments can check.　　At the same time, when the application documents are accepted, the issuer will disclose the prospectus (the report) in advance on the SFC website. Relevant departments in the formal acceptance of the IPO application materials 15 working days, will be given to the sponsor agencies feedback. The sponsor shall, in accordance with this opinion, supplement and revise the materials, and shall, within five working days after replying to the comments and modifying the application documents, disclose the prospectus (report) and its related attachments to the SFC website in advance.　　Reviewed by the Department, submitted to the Commission. "and the audit process for the motherboard is similar.　　Said the securities investment bankers said.　　Prior to the Securities and Futures Commission to submit materials to the situation of two of the survey, the initial grasp of the situation shows that the admissibility of materials in the initial period of 50-100 enterprises may submit applications. But on July 22, according to a number of investment bankers in charge of the gem, the company's core departments have not yet begun to audit, the specific number of reports, the sponsor agency itself is unknown.