Founder Securities’ third auction will be on June 9, 2021. Because the capital chain of Founder Securities was broken, it was necessary to repay the 6.1 billion yuan civil creditor's rights of China Communications Trust against Zhengquan Holdings, so the equity of Founder Securities had to be auctioned. However, because no one bid on the previous two times, there was a Unsuccessful shooting phenomenon.
1. Description of Founder Securities starting price:
Multiply the average closing price of the twenty trading days before June 19, 2021 by the total number of shares (1089704789 shares) multiplied by 90 % as the starting price. The starting price announced from the online auction to the start of the auction is the average closing price of the 10 trading days before May 19, 2021 multiplied by the total number of shares (1089704789 shares) multiplied by 90%. It is only a display price, not the actual starting price. (Due to the greater impact of stock changes, the actual starting price will be adjusted before June 19, 2021. The adjusted price is the actual starting price of this auction.)
2. Summary of Founder Securities Co., Ltd.
Founder Securities Co., Ltd. is one of the first batch of comprehensive securities companies in China and the first batch of members of the Shanghai Stock Exchange and Shenzhen Stock Exchange. It was restructured into a joint-stock company in 2010 and listed on the Shanghai Stock Exchange in 2011 (stock code: 601901). Founder Securities owns Founder Underwriting Sponsor, Founder Temporary Futures, Founder Fubon Fund and Founder. 10011.com/Investment, Founder Securities Investment, Founder Hong Kong Financial Holdings, and other 6 wholly-owned or holding subsidiaries are mainly engaged in investment banking, futures brokerage, fund management, private equity fund management, alternative investment and overseas business, and hold Credit Suisse Founder 49% of the shares.
To sum up, nearly 1.1 billion shares of Founder Securities have failed to be auctioned, so a third auction will be held on June 19, 2021. This situation is very difficult for shareholders. This is a good thing, because there is a small response to Founder Securities every time it fails to sell. It is recommended that everyone be cautious when entering the market.