How will the restart of IPO affect the stock market? Publish time: 2008-12-06 04:38 User comments 0 Clicks to view and enter the forum Source: Jingchu.com East Lake Theme Park Overseas Chinese Town Group’s 4.5 billion artificial pig blood detonated citizens’ table crisis and pirated disc trading street investigation

Personnel is like a fake My 5-12 Earthquake Anniversary Collection of Works Jingchu.com News (Chutian Jinbao Supplement) □ Our reporter Zhang Xiang Editor’s note: When the market environment improves and the stock market rebounds, capacity expansion has once again become a topic of market concern

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IPOs reopened after a two-month suspension, and Shanghai Electric listed on the Shanghai Stock Exchange on Friday.

New shares issued by Dongfang Electric and Kailuan Electric Co., Ltd. have also been listed recently.

Although Shanghai Electric has its own uniqueness, with the long queue of companies that have already passed the IPO, the market is becoming more and more enthusiastic about reopening the IPO.

If the IPO is restarted, what impact will it have on the stock market?

Please see - IPO restart is imminent?

Reporter: Although the management has been cautious about restarting IPOs, the market expects that the IPO restart will not be too far away due to the listing of Shanghai Electric and the recent frequent issuance of additional shares by listed companies.

What do you think of this phenomenon?

Ms. Tang (Hankou): It is understood that unlike normal IPO listings, Shanghai Electric’s A shares are issued through a share exchange and absorption merger, and do not raise funds from the market. Therefore, it will not have a negative impact on the funding of A shares, but will have a positive impact on the market.

It was a false alarm.

However, the pace of financing and refinancing of listed companies has recently begun to accelerate.

For example, Dongfang Electric issued an additional 65 million shares and Kailuan Co., Ltd. issued an additional 56.12 million shares. They have recently been listed. In addition, the backdoor listing of Southwest Securities and the issuance of corporate bonds by Sinopec, China Petroleum, Daqin Railway and other companies have been approved.

Since the listing of Huachang Chemical on September 26, the IPO road has been blocked to this day. There are currently as many as 36 listed companies waiting in line, including China State Construction, China Everbright Bank, China Merchants Securities and other large-cap stocks.

Thinking of this, it is inevitable that the market is expected to restart IPOs.

Mr. Zhang (professional): Recently, the stock market news has been mainly positive. Against the background of the social security fund and Huijin’s renewed capital injection, the stock market has temporarily rebounded. Investors have not paid much attention to some additional issuance events, and the resulting

The negative effects have also been temporarily ignored.

However, if a larger-scale IPO is reopened at this time, the expansion pressure generated cannot be underestimated.

Mr. Qin (Qingshan): I have also noticed that there is news that the chance of IPO restarting within the year is slim, but the company's listing process and margin financing are more likely to "open" in January next year.

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Recently, the management has "dissuaded" some companies that have experienced decline in performance and have not been listed yet. This move is intended to "clear mines" and pave the way for IPOs.

What will be the impact of the issuance of new shares? Reporter: Under the current market conditions, if the issuance of new shares is reopened, how much impact will it have on the market?

Mr. Chen (Hanyang): Judging from historical experience, the issuance of new shares is suspended for a long time due to the market downturn. When the market improves, the issuance of new shares is reopened. At this time, the market will generally fall in response.

Mr. Zhang: The opening of new stock issuance must be viewed dialectically. Financing is the basic function of the capital market. When the real economy encounters a crisis, the supporting role of the capital market is particularly important.

In particular, small-cap IPOs need to be restarted as soon as possible. Small and medium-sized enterprises need more financing support in this macro environment and market structure. The market’s fear of IPO expansion is directed at large-cap stock IPOs. Small-cap IPOs have little impact, and restarting small-cap IPOs

IPO gives market confidence and provides practical support to enterprises.

Therefore, the decision should be made based on the size and nature of the issuing company.

However, regulators are very prudent in restarting IPOs. Behaviors such as "persuading them to withdraw" show that regulators also attach great importance to the prevention of potential risks.

From this point of view, it is beneficial to market stability.

Ms. Tang: I believe that the regulatory authorities should be able to better control the opening pace of IPOs and will not act rashly. However, the most worrying thing in the A-share market is the new "large and small illegal". After all, the current "large and small illegal" problem is very serious.

protrude.

Mr. Qin: Under the current situation, the issuance of new shares has a greater impact on the market. Once management arranges the issuance of new shares such as China Construction and China Everbright Bank, investors should be appropriately cautious in their operations.