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July 6, Zoomlion announced that it intends to issue H-shares to make its secret preparations for the two-year overseas listing plan publicly known. At the same time, the company also announced a substantial increase in performance and 10 sent 15 to send 1.7 yuan high distribution plan. The next day, Zoomlion daily volume trading. But too low-key and secrecy to make institutional investors difficult to digest, a number of institutions to the sudden trend of a large number of selling Zoomlion shares, the top five selling agencies sold a total of 900 million yuan chips. In the morning of 6th, the second provisional meeting of Zoomlion Board this year was held in Beijing 10 o'clock in the morning. On the board, Zoomlion hammered out a proposal for the company to issue H shares. "The meeting was more than 12 o'clock noon, the board after a meeting to the group downstairs to a restaurant to eat, after dinner everyone did not go, in the room staring at the stock did not move until the close to the end of the walk." The head of the Zoomlion H-share project said the message was highly confidential. In accordance with the H-share issue, Zoomlion's current issue of H shares does not exceed 15% of the total share capital of the company issued, with about 830 million H shares issued, including international placements and the Hong Kong public offering. Zoomlion plans to raise more than tens of billions of dollars, mainly for the expansion of the company's international business, construction and improvement of the company's domestic and foreign marketing network and service system and support system to speed up the implementation of corporate globalization strategy, such as several directions. The head said that since 2007, the listing of overseas listings as part of the zoomlion globalization strategy has begun in preparation, not a+h, but A+n, which is ready to go public on the NYSE. Preparations for overseas listings have been plentiful, but they have since decided to land in Hong Kong. "The original plan is to go overseas listing, and then to do additional, but later decided to become the first issue and then issued H-shares, conversion is very smooth." "The issue is to look at the right time window," said the official. "For the H-share issue, a large intermediary has already been admitted, the Zoomlion has selected several investment banks such as CICC and JP Morgan, and CICC will be one of the global coordinators of the Hong Kong stock issue, and the other global coordinator will be created in the rest of the foreign investment banks," he said. The law firm, which served its distribution, also reached 5. Rare high distribution with the issuance of the H-share resolution, Zoomlion also released a beautiful performance and high delivery plan: The company is expected to achieve net profit of 16.27-2.169 billion yuan in the first half of this year, an increase of 50% to 100%. In addition, Zoomlion also launched a very rare medium-term high dividend plan-every 10 shares sent 15 shares sent 1.7 yuan. Such generous allocations are a standout in the medium-term distribution of listed companies, which is believed to be the escort H-share issue. "The company's primary point of departure is to ensure the interests of the old shareholders and repay the old shareholders," the company decided to allocate a portion of its previous accumulated profits before it was issued, the Zoomlion said. Comparison of the allocation scheme of 10 send 15 sent by the company 1.7 yuanModerate。 This year's 1 quarterly bulletin shows that the Capital Provident Fund of Zoomlion is as high as $5.2 billion, while the unallocated profits are as high as $5.6 billion, and the stock will be further increased before the H-share issue is issued, and the accumulated profits will be shared by new and old shareholders. However, while the high distribution programme has always been a hot spot in the capital markets, the high distribution of zoomlion has not attracted much interest from institutional investors. July 7 The same day, Zoomlion shares in the opening of a direct trading, the day turnover is also as high as 2.3 billion yuan, a rare amount of days. In the sale of seats in the day, five of the seats in the sale of the large amount, and the purchase of seats only one body figure. One of the sales of the first institutional seats reached 530 million yuan, according to the number of the quarterly stock projections, it is possible that the GF Fund's poly-Feng stock fund, and the second-ranked institutions to sell 130 million yuan, the agency's trading on the clear signs of shipments. "In the short term, issuing new shares is not necessarily a good thing for the original investors of a shares, and the return on capital may be diluted." But in the long run, the company's business development, especially to open up the international market has great benefits. "A Shanghai mechanical industry researcher said. In fact, Zoomlion's performance in the advance and high distribution in the institutional investors reaction is somewhat insipid, let institutional investors have concerns not only the real estate industry by macro-control or transfer to the construction machinery industry development, but also to express the company's significant capital operation without knowing that there is dissatisfaction. A researcher, Chen, had not heard of this information before, which made the announcement after the publication of its exchange with the fund manager a little embarrassed. "The company has not previously and institutional investors ditch the program, is strictly to strict requirements to avoid information leakage, which may also objectively lead to a lack of communication with institutional investors." The Zoomlion said the roadshow will be followed by in-depth communication with institutional investors.
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