Yangtze River Power today complex test a-share

With hundreds of billions of restructurings planned for Friday, the Yangtze Power (600900), which has been suspended for a year for "major asset restructurings", will "return" A shares today. Due to coincide with a a-share rebound of the key points, this is only considered to have to make up the expectations of the former Big Mac has become the focus of the market focus: The premiere is rising or falling?　　How will the market react? The overall listing of the hijab set off on May 8, 2008 due to the reorganization of the announcement of suspension, the Yangtze River Power began to "sleep."　　During this period, the Shanghai Composite Index fell from 3,700 points to 1664 points, and rose from 1664 to 2,645 points. 01 weeks after the year, the results finally came.　　In Friday, the Yangtze River Power issued a notice, the company's board of directors has been passed on the "China Changjiang Power Co., Ltd. major assets reorganization plan" bill.　　According to the announcement, the target assets of the transaction include the proposed acquisition of the Three Gorges Project power generation assets and ancillary production of specialized companies equity, as of the benchmark date, the initial evaluation value of the target assets of about 107.5 billion yuan. The announcement said that the company will undertake with the target assets related to the way of debt to China's Three Gorges Corporation to pay some of the price of about 50 billion yuan, to undertake the debt includes: the target Three Gorges debt, foreign exchange loans and renminbi borrowings. At the same time, the company intends to 12.89 yuan per share of the price of China's Three Gorges Corporation issued 1.552 billion shares, to pay about 20 billion yuan. The remaining part of the transaction price after undertaking the debt and Non-public offering shares, the company pays the cash to China Three Gorges Corporation.　　Up to the benchmark date, the company will pay cash of about 37.5 billion yuan.　　Once the reorganization is completed, the current total assets of only 57.696 billion yuan in the Yangtze River Power will be successfully staged "Snake Swallow Elephant", and thus become China's largest hydropower listed companies.　　Less likely to fall although the huge restructuring plan is enough to cheer investors, but more people began to worry after the excitement, after a year of suspension, the Yangtze River Power will also go to repair the old road. The fears of these people are based. March 21 last year, the Skylight (600096) announced the suspension, nearly 8 months after the share price fell nearly 70%, the Shanghai Composite Index fell 50%; last June 25, Salt Lake Potash (000792) announced the suspension, nearly 7 months after the announcement of a succession of shares fell to 56.8%,　　The Shanghai Composite Index fell 34.8%.　　As the Shanghai Composite Index fell 26.09% per cent during the power suspension of the Yangtze River, the decline seemed inevitable if the stocks were to fall. But analysts interviewed by reporters don't think so. In the opinion of a broker, if the Changjiang power is not restructured, the fall will be inevitable. After the restructuring of the Yangtze River Power, the performance of each share is likely to reach six or seven cents, in order to suspend the stock price, the price-to-earnings ratio of about 20 times.　　As a result, the space for the fall is almost closed. The reporter noted that before the release of a duplicate notice, most brokerages in the recent investment rating of the Yangtze River Power is still listed as "buy" or "overweight" list, that even considerTo the dilution of equity, its share price still has room to rise. Oriental Securities Research Report on the unit to maintain a "buy" rating, 12-month target price of 17.5 yuan, China Merchants Securities to maintain the "buy" rating, the target price of 16.64 yuan.　　A survey of Internet users in a financial website shows that 70.3% of investors are bullish on the prospect of restructuring the Yangtze River, with 54.1% of people saying they want to buy Changjiang power. Short-term impact on the market because it can not eliminate the possibility of the fall, which makes the market for today's stock index is very concerned about the trend.　　Many people worry that the "return" of power in the Yangtze River will be the same as the original Chinese oil return to change the current stock index rebound situation. However, more people think that this worry is superfluous. "Because the market is bullish on the Yangtze River power of the complex, so the trend of the shares today relatively optimistic." And as the weight of the Yangtze River Power, the rise in stock prices will play a positive role in the rally.　　"Citic Investment analyst talk Sun Peng said.　　In addition, although the reorganization involves an amount of over hundred billion, but investors do not have to worry about a restructuring of the Yangtze River that will bleed the market, because in its announcement it has already explained how to pay hundreds of billions of dollars of money, not to finance investors in a-share market, which means that the Changjiang power will not take away the funds in the two-tier market.　　Before the suspension of the Yangtze River Power stock price of 14.65 yuan, this price and 12.98 yuan of additional price difference is small, because of the possibility of break, this also to a certain extent means that its decline in space is limited. And even if the power shares of the Yangtze River fell, because of its weight decline, will not have a significant impact on the stock market. Data show that the current total capital of the Yangtze River Power has 9.412 billion shares, through the issuance of 1.552 billion shares to China's Three Gorges Corporation, the company's total equity will increase to 10.964 billion shares, such a number compared to China's 183.02 billion shares and China Shenhua 19.89 billion shares big gap. Commercial newspaper reporter Wang Lei