The successful repurchase plan or empty of the hippocampus shares debt to stock

Every reporter Song Yuandong yesterday, the hippocampus shares (000572, close 5.71 yuan) Big shareholder Hainan automobile disclosure of the "Rights change book" shows that from April 15 to June 1, the hippocampus transfer debt cumulative to 116 million shares, and hippocampus transfer debt due to trigger the advance redemption clause and exit the market.　　Industry insiders said that, after the hippocampus shares early completion of equity financing, repurchase plans may have become scrap.　　June 2, according to SSE's routine rules, the hippocampus shares issued by the purchase of repurchase progress, from December 9, 2008 Hippocampus shares issued repurchase book, as of May 31, the hippocampus company repurchase shares of 0 shares, pay the amount of repurchase funds of 0 yuan. June 3, because of the hippocampus to transfer debt to the shares of Hainan car held a passive reduction of more than 5%, the hippocampus shares issued the "Book of changes in equity."　　The hippocampus transfer debt from July 16 last year into the stock transfer period, this year April 15 to June 1, the total shares of hippocampus shares from nearly 930 million to 1.046 billion shares, the period of transfer debt to 116 million shares. At the same time because the company's stock price continues to rise, the hippocampus to transfer debt in the 30 consecutive trading days from March 17 to April 28, the closing price of 20 trading day is higher than the current period of 130%, the hippocampus transfer debt triggered early redemption terms, hippocampus shares announced early redemption transfer debt. The hippocampus to transfer debt from June 1 onwards to stop the stock, and pick up the cards. As the company's share price is much higher than the price, the transfer of bondholders is more advantageous than the option of resale, so the hippocampus transfer debt to share.　　In less than 1.5 days, the issue of the hippocampus has withdrawn from the market. Last January, the hippocampus shares issued 8.2 million convertible bonds, raised capital of 820 million yuan, the initial transfer price of 18.28 yuan. Unexpectedly last year suffered a big bear market, the hippocampus shares following the market losing, once fell to last October 30 2.40 yuan.　　In order to avoid triggering the return clause so as to cause the company to "repay the debt" in advance, the hippocampus shares down twice in a row last year, from 18.28 yuan/share to 5.03 yuan/share, and then to 3.6 yuan/share. December 9 last year, when the hippocampus shares launched the repurchase plan, the industry has questioned the hippocampus share repurchase motives are not pure, suspicion of its repurchase is to lift the price of shares, to pave the road for equity financing. "Now, the pressure to return to the debt has been eliminated, even if the share price fell to the repurchase limit of 3.6 yuan below, the hippocampus shares may not have the power to buy back!" One analyst told the Daily Economic news that the repurchase plan may have become scrap, even though the return time for the hippocampus shares has not ended after the transfer of debt to equities.