This month is expected to "sell" Haitong share Minsheng Bank Two-level market selling Haitong total to earn more than 4 billion yuan

-Our correspondent Dong 2008 has been held by the Haitong Securities stock shares repeatedly discounted, also failed to auction the Minsheng Bank, but in the two-tier market through direct reduction is to make its holding Haitong securities assets successfully recovered. Minsheng Bank of a high level yesterday in the "securities daily" reporters said, "the company will be in accordance with the provisions of the scheduled disposal of BI stock equity, once the reduction of all Haitong Securities equity, will be disclosed in accordance with the provisions of the announcement." "It is clear that after the successful disposal of 224 million shares of Haitong Securities, the remaining 157 million shares are expected to be disposed of by the end of June." According to the relevant requirements, Minsheng Bank 112 million-share disposal period of June 29, 2009.　　And Minsheng Bank through the judicial ruling by the borrower's debt assets total 380 million shares of Haitong Securities shares once all "sell", will also be for Minsheng Bank to obtain more than 4 billion yuan of valuable funds. Abandon auction Two-tier market direct reduction of profits quite abundant Minsheng Bank was in 2004 and 2005 respectively, the recipient of the debt of Haitong Securities shares 387 million shares and 162 million shares, total 549 million shares. After the successful listing of the Backdoor city shares, the Minsheng bank holds 190 million shares after the stock exchange, and becomes the sixth largest shareholder of Haitong Securities in accordance with the ratio of 1:0.347.　　In the first half of 2008, Haitong Securities sent 3 shares per 10 shares to increase 7 shares, in addition to the right after the Minsheng bank held a total of 380 million. According to the law of commercial banks in China, the bank holds the debt-equity stake not more than two years of relevant provisions, Minsheng Bank held Haitong Securities equity should be disposed of.　　To this end, Minsheng Bank in 2008 twice to the Haitong Securities stock auction, but all failed. May 23, 2008, Minsheng Bank commissioned Beijing Yong and Jiacheng Auction Co., Ltd. in Beijing Property Exchange on the company's holdings of Haitong Securities about 134 million shares of restricted circulation of a shares for the whole auction. 　　Starting from the benchmark date of 30 trading days on the Shanghai Stock Exchange 80% of the average price of the transaction, according to the calculation, the auction should be 37.464 yuan, Haitong Securities shares are expected to take 5 billion yuan, but due to the stipulated period of time did not get the standard bidders and streaming. One months later, in order to smooth the auction, Minsheng Bank in the first bid to hit 80 percent basis, continue to increase the discount. June 30, Minsheng Bank through the Beijing Property Exchange auction held by the Haitong Securities 3.26% stake, a total of 269 million shares of restricted circulation, starting a reference price of 11.68 yuan/share. The starting price compared with the first time, a direct discount of nearly 40%.　　Although the discount is obvious, but in the stock market plunge, Haitong securities stock price shrinking in the background, Minsheng Bank auction still with the end of the flow. The failure of two auctions and the full circulation of the shares of Haitong Securities in the end of 2008 made Minsheng Bank firm its determination to reduce its sales directly in the two-tier market. In November 2008, the company's board of Directors approved the use of market transactions permitted by the regulatory authorities to dispose of the seaThe bill, which shares 380 million shares, has since officially started selling Haitong securities in the level two market. As of April 20, Minsheng Bank has successfully dumped 224 million shares of Haitong Securities, there are still 157 million shares. The first quarter of this year Minsheng Bank investment income of up to 1.016 billion yuan, which is due to the sale of Haitong securities 93.07 million share of the contribution.　　Since then, with Haitong securities stock price of the steady rebound in the March 31 to April 20 to reduce the 131 million shares of Haitong Securities, Haitong Securities, the average stock price of 13.77 yuan, so less the shareholding costs, Minsheng Bank now by selling Haitong Securities has been more than 2.5 billion yuan in investment income. Minsheng Bank's remaining shares of about 157 million Haitong securities are expected to be disposed of before the end of June.　　As a result of recent stock price recovery, if the conservative according to Haitong Securities average price of 14 yuan calculation, this stake will also bring the company up to nearly 2.2 billion yuan of investment income. Invest in the financial assets of the People's Bank of China cautious recent, safe settled into the deep development, the Bank of investment insurance companies, are the domestic banks mixed operation of another milestone.　　Minsheng has made clear the timing of the time it took to empty Haitong Securities, and has led to speculation that the company is trying to keep its securities business. At present, the main income of each bank in our country comes from spreads income, the profit structure is unitary. Mixed operation is obviously more conducive to improving the development of the banks of the space.　　With banks trying to expand to other financial businesses, Minsheng is much more cautious. At the beginning of this month, Shaanxi state investment A and Minsheng Bank of the "marriage"-this is hailed as the first domestic trust listed companies and listed banks of the Strategic Cooperation program officially declared "failed."　　The main reason for the "miscarriage" of this matter is that Minsheng Bank unilaterally announced the termination of cooperation. September 2007, Shaanxi state investment A and Minsheng bank signed the "Share subscription contract" and "strategic cooperation agreement." Minsheng Bank to subscribe to the Shaanxi state investment in the Non-public offering of a private shares 143 million shares, the subscription price of 16.38 yuan per share, the payment amount of about 2.34 billion yuan. After the completion of the issue, Minsheng Bank held in Shaanxi state investment not less than 25.04% of the shares, the company is the first major shareholder in Shaanxi Expressway Construction Group to reduce the appropriate way, Minsheng Bank will become the Shaanxi state investment a tied large shareholder.　　The two sides ' strategic cooperation programme was first approved by the CBRC in March 2008. In the next two years, however, the perfect plan for "bank-Enterprise cooperation" has been unable to advance due to the upheaval in the financial environment.　　May 11, 2009, Minsheng Bank for the "domestic capital market changes", its continued implementation of strategic cooperation there are great difficulties, and decided to terminate the subscription of Shaanxi state to vote a-share rights. Although Minsheng Bank for this "fleeing" the reason language is ominous, but the market all parties believe that the main reason for the termination of the directional issue is the Shaanxi state investment in a large drop in price. Prior to the signing of the agreement two years ago, Shaanxi state investment in a-share price is still 20 yuan, followed by this benefitThe good news is to dash to 30.60 yuan of this historical highest position. In the securities market in the past two years, the overall downturn in the environment, Shaanxi investment in a share price has shrunk sharply. As of yesterday's close, only 11.76 yuan, the price of the higher than the highest price shrank by more than 60%, but also compared to the two fixed 16.38 yuan subscription price reduced by nearly five yuan. In other words, according to yesterday's Shaanxi investment a closing price calculation, Minsheng Bank to obtain 143 million shares to pay only 1.629 billion yuan, but if still agreed at the time of the 16.38 yuan/share subscription, Minsheng Bank must pay at least 660 million yuan, this is obviously Minsheng Bank does not want to see. Minsheng Bank in the media interviewed also said that the suspension of strategic cooperation with the Shaanxi State, indeed with the two-tier market fluctuations since last year.