1. Do you hold company shares and issue convertible bonds?
Holding company shares, when a listed company issues convertible bonds, it will distribute some convertible bonds. It should be noted that investors must buy on the day of distribution subscription, otherwise it will be regarded as giving up the distribution of creditor's rights.
The number of bonds distributed to investors is calculated according to the number of shares held by them and the allotment ratio, in which the number of distributable hands in Shanghai market = the number of shares held on the base day after the market closes × allotment ratio/1000; The number of shares that can be allotted in Shenzhen = the number of shares held on the base day after the closing date × the allotment ratio/100. Therefore, investors hold fewer shares and get less debt.
For example, investors hold 65,438+0,000 shares of a stock in Shenzhen market. On the 20th, the company issued convertible bonds and allotted shares to the original shareholders, with the allotment ratio of 65,438+0. Then the number of placing bonds that investors can obtain = 1 1,000×1100 = 65430.
In addition, listed companies issue convertible bonds, and investors can also conduct top-notch subscription operations.
Second, how to buy and sell convertible bonds? How to convert shares?
(1) How to buy and sell
1, participating at the time of publication
Holding the stocks corresponding to the bonds, enjoying the priority placement qualification; If you don't hold shares, you can only make new ones by subscription. If you don't win the lottery, you are not qualified to buy it. Priority placement and subscription can only be given after the bonds are listed.
2. Post-listing participation
It is no different from stock trading. Just like stock price, the price of convertible bonds changes at any time, except that the number of convertible bonds is 10, which is operated according to the T+0 trading system, that is, investors can sell or buy at any time.
(b) How to convert shares
The conversion should be within the conversion period. As for the convertible bonds currently traded in the market, the conversion period is generally six months from the end of issuance to the maturity date of convertible bonds, so the convertible bonds can be freely converted on any trading day during this period.
3. What is the relationship between convertible bond price and stock price?
There is a strong correlation between the price of convertible bonds and the stock price. In a bull market, the price of convertible bonds will rise with the situation of stocks, and in a bear market, it will fall together. Compared with stocks, the risk of convertible bonds is already very small. After all, convertible bonds have the benefits of selling back and bonds.