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What’s the situation? It was canceled after just four days of listing and the most powerful convertible bond was abandoned by the controller this week
Source: Finance Association
According to the Financial Association (Shanghai, researcher Zhang Yang), as the best convertible debt this week,Convertible LegeJust four days after listing, it was canceled and curtailed by the actual controller, which triggered intense market discussions.
The Lege convertible bonds were liquidated and reduced by the current controller
Tonight, the news that the Lege convertible bond has been liquidated by the current controller blew up the investors holding the bond.Music sharingAnnouncement, on November 13, 2020, the company received a notice from the actual controller, Ms. Jiang Yi, and her agreed parties, Regent Electronics and Regent International. Ms. Jiang Yi, Regent Electronics and Regent International were traded on the Shenzhen Stock Exchange. The system uses centralized offerings and bulk transactions to reduce its holdings of 300,000 tune convertible bonds, or 21.27% of the total issue.
After the completion of this reduction, the actual controllers of the company, Mr. Xiang Lehong, Ms. Jiang Yi, and their agreed parties, Regent Electronics, Regent International and Jucai Investment, no longer hold the “Lege Convertible Bonds”.
Indeed, Lege convertible bonds have been continuously reduced in the previous two trading days. On the 11th, the company announced that the current controller of the company, Ms. Jiang Yi and her concerted person, Jucai Investment, have adopted the centralized transaction system through the trading system of the Shenzhen Stock Exchange. The offering method and the bulk transaction method reduced its holdings by 157,000 convertible music and song bonds, or 11.06% of the total issue.
On the 12th, Lege shares again issued an announcement stating that current controller Jiang Yi and his concerted players Regent Electronics and Jucai Investment reduced their holdings in Lege convertible bonds to a total of 437,600 on November 12, equal to at 30.81 of the total issue. %.
Additionally, in the 12th announcement, Lege also reminded investors to pay attention to investment risks.The company announced that under normal circumstances, the price of its shares and the price of its convertible bonds are strongly positively correlated and there is no such thing as a very high premium rate. The high price of “Lege Convertible Bonds” is mainly due to the fact that the company’s convertible corporate bonds have less circulation and the prices of corporate convertible bonds are easily affected by market funds. Investors are advised to pay attention to the investment risk.
It is worth noting that the fact that the actual controller “leaves” so quickly has also sparked heated discussions in the market. Some shareholders bluntly state that convertible bonds have become a tool for cashing in on listed companies.
Convertible bonds were frantically advertised by the funds
Although the listing period is only four days, the performance of Lege’s convertible bonds is quite impressive. After the listing, the “fuse” was triggered frequently due to the much sought after and sustained rises, and today reached a high price of 259.98 yuan, which means that the convertible bond’s highest rise reached 159. % in just four days.
Due to the relatively strong performance at the beginning of the listing, strong market attention was raised. The turnover of Lege convertible bonds has gradually increased over the past few days. Today, the convertible bond turnover reaches 6.99 billion yuan, and the turnover rate is nearly 50 times higher than it is today. The highest rate of all convertible bonds.
As for why the Lege convertible bonds were speculated, some market participants pointed out that the main reason is that the bond balance is relatively small and the bond issue is only 142 million yuan. It’s easy to get stimulated by funds.
It is worth noting that, compared to convertible bonds, the performance of the stock music song is rather depressed. Since the listing of Lege’s convertible bonds, Lege’s share price has been in a state of adjustment. The stock fell as much as 16% this week. The performance of convertible bonds is completely deviated from the performance of the underlying security.
Massive information, accurate interpretation, all in Sina Finance APP
Responsible director: Lu Wenyun
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