St Kejian reorganization behind whose feast?

This reporter Xu Guming September 24, st Kejian (000035) continued to fall, which has been the company since September 18, the third stop plate.　　The reason, according to the Chinese Economic Times reporter understand, st Kejian suspended two years after the September 17 this year, and announced the reorganization plan was questioned by the market, in this capital game, a lot of waiting for two years of shareholders chose to leave the field.　　PE firewire in fact, in order to achieve a smooth restructuring, st Kejian has been through the reorganization of the process of stripping existing assets, liabilities, etc., has become no assets, no debt, no existing business, no personnel company. "2004 to now, st Kejian experienced five reorganization, each time the stock price fluctuation is too big, now st Kejian the net shell of the market value rose to 2 billion yuan, a variety of interest game decided day Ying Environmental protection backdoor listing is not easy."　　"The head of an investment company in Beijing said to the China Economic Times reporter.　　September 17, st Kejian issued a restructuring plan to the Non-public offering of shares as the price, the acquisition of environmental protection 100% Equity. Who will be the biggest beneficiary of this restructuring?　　There is no doubt that the days of environmental protection if the reorganization of the success of the FireWire participation in PE will benefit handsomely. According to the plan, November 15, 2011, Days of environmental protection for the first time to introduce external institutional shareholders. Ping an investment holding 29.17% of the equity of environmental protection. Ping An venture investment of up to 154 million yuan, subscription price of 2.80 yuan.　　After several rounds of capital expansion, the Ping an venture stake in the ratio of 23.25%. In the second round of financing, PE institutions actively participate in environmental protection of the day.　　March 22, 2013, the day of the general Meeting of Environmental Protection shareholders decided to introduce new shareholders, Shanghai Fu Xin, Shanghai yu Fu, tai hai Lian, Hong Silver investment, million Feng Jinyuan, Chengdu Entrepreneurship, Days Sheng-Tatsu and other institutions and enterprises to jointly invest 336 million yuan.　　It is noteworthy that the PE withdrawal time has become the focus of the market attention.　　It is reported that the Ping an innovation commitment to the listed companies issued shares, since the new shares listed on the date of 12 months does not transfer. Shanghai new, Million Feng Jinyuan and other commitments, if the public company to obtain the shares of Non-public offerings, for a period of less than 12 months of continuous environmental protection, the shares of the listed company shall not be transferred within 36 months from the date of the listing of the new shares, and if the duration of the environmental protection rights and interests of the day is over 12 months,　　The shares obtained in the listed company shall not be transferred within 12 months from the date of the listing of the new shares.　　Suction Kim Dafa How to deduce the official website of Jiangsu Environmental Protection Bureau shows that environmental protection audit publicity has been announced, the publicity date is from September 11 to 17th this year. In fact, the road to environmental IPOs began last year.　　September 13, 2012 Day Ying Environmental Protection Bulletin said the company intends to open the first public shares and listed on the domestic stock exchange, is receiving the National Gold Securities (600109, shares bar) counseling, and has been to the CSRC Jiangsu Regulatory Authority for the official record. The IPO has not yet opened the floodgates. BecauseThis, the shell listing became a day of environmental protection and many PE choice.　　According to the plan, as of the end of July this year, the days of the environmental net worth of 867 million yuan, the use of income method evaluation of the pre-valuation of 1.814 billion yuan, value-added rate of up to 109.31%.　　It is noteworthy that the days of the environmental protection of the "suction Jinda law" to the market marvel.　　According to our correspondent understand, if according to market value to calculate, in accordance with the September 24 st Kejian reported in 10.03 Yuan, once the issue of success, Santa Jun and other 17 days of environmental protection shareholders, 378 million shares of its st Kejian market value will be as high as 3.791 billion yuan. But the market from September 18 to date, st Kejian has been subject to the sale of shareholders, three consecutive decline in the board.　　In addition, the days of the environmental protection of the profit prospects are unpredictable. "At present, the garbage incineration power plant in the bot mode as the main profit model, financing is the biggest headache for all companies, because the need for the company's current cushion construction, and a long income cycle."　　"Changjiang Securities (000783, shares)," analysts told the China Economic Times reporter. However, the days of environmental protection announced that the proposed initial public offering is no less than 63.0952 million shares, to raise funds for the construction of Binzhou and Liaoyuan days of the daily life garbage incineration power plant projects, two project investment amounted to 889 million yuan. Compared to the days of the environmental profit level, the company also has a major funding gap.