Bse companies welcome the first round of large-scale lifting ban

2022-05-01 0 By

In February, the first large-scale lifting of the ban came.According to sse News Information statistics, in February 2022, there were 21 listed companies involved in the lifting of the ban, accounting for a quarter of the listed companies on the NORTH Stock Exchange, with a total market value of 118.463 billion yuan.The lifting of the ban is mainly caused by the additional extension of the shareholder lock-up period of the first batch of listed companies at the early stage of the selected layer for an additional 6 months. The lifting of the ban is the main reason for the limited sale of shares by the original shareholders of the ipo or the concentrated lifting of the strategic allotment shares of the IPO.Among them, on February 9, the original shareholders of Senxuan Pharmaceutical and Beitrui released the restricted shares of 345.4662 million shares and 331.18186 million shares respectively, with the released market value of 7.669 billion yuan and 42.294 billion yuan respectively, accounting for 88.93% and 72.01% of the total market value of the company.There are also some companies, such as Jilin Carbon Valley, Guoyi Tendering, Tongyi Aerospace, Huawei Design, Kaiteng Precision and other companies, the market value of the lifting of the suspension is relatively small, less than 2% of the total market value of the company.According to the “Beijing Stock Exchange Listing Rules (Trial)(Draft)” issued by THE Beijing Stock Exchange, shareholders holding more than 10% and controlling shareholders of the Beijing Stock Exchange can lock up their shares for 12 months, which is much shorter than the 36 months of the GEM and Science and Technology Innovation Board.After the lifting of a large number of restricted shares, whether the relevant shareholders reduce their holdings, whether it will bring an impact on the stock price, has become the focus of the market.Since January this year, 12 BSE companies have disclosed plans for shareholders holding more than 5 percent or Dong Jiangao to reduce their stakes.There are different views on whether the reduction will put pressure on stock prices.It is believed that there is not much pressure for the BSE to reduce its holdings, because the shareholding concentration of listed companies on the BSE is higher than that of the SCIENCE and Technology Innovation Board and gem.The average shareholding ratio of the largest shareholder and group members in 84 BSE companies exceeded 50 percent, compared with 42 percent for the Science and Technology Innovation Board and 39 percent for the GEM board.The shareholding concentration of the largest shareholder and the people acting in concert is high, and the overall willingness to reduce holdings is not strong.Essence Securities Zhu Haibin team believes that in terms of time and market value, it can be expected that the first quarter of 2022 and After July 2022 will face two intensive periods of lifting the ban.”The coming of the lifting period may bring some psychological pressure to relevant companies and the market in the short term, but we would like to emphasize that lifting the ban does not mean reducing holdings.The long-term historical experience of A-share companies shows that the release of shares can be used as an indicator to observe industrial capital to identify the value of the company, especially those companies with additional commitments to extend the lock-up period.Of course, in the long term, we advise investors to pay more attention to the certainty of growth and the ‘expertise and novelty’ nature of BSE companies, and look for sustainable growth companies to achieve long-term investment returns.”