Obama's Ebola czar: Virus cases set to 'explode'
, and the first time in 2020, the first time to respond, from material donations, insurance guarantees, and gold. In terms of financial services, medical support and other aspects, we have participated in various channels and means to fight against the epidemic, protect the people's livelihood and actively fulfill the corporate citizenship responsibility. In the past week, the A-share market stopped falling and stabilized. Shanghai Stock Index A few weeks up 0.97%, blue chip sectors such as liquor and finance performed relatively well. For investors who prefer value style, the market performance in the past week is enough for them to see the light of the day
But for another group of A-share participants, the beaters, the past week has been extremely tragic. First of all, let's look at a picture that has been wildly spread on the stock market forum in recent days: the pictures are all the stocks whose stock prices have been rising and falling continuously after the closing on Monday. The blue British equipment stock price of the concept stock of photolithography machine gains five boards, which is the largest number of boards in the market at that time In general, the more space boards there are, the more popular they are in the market. However, on Tuesday, there was a record of "hitting the head with a bang"in the above pictures of 5-board, 4-board, 3-board and 2-board stocks, all of which failed to continue the trend of connecting boards. Some even turned around and fell, such as 5-board stocks The stock price of Lanying equipment directly staged the extreme trend of "sky and floor" on Tuesday, closing down 9.46%
. In other words, the book float loss of the funds bought on Tuesday's trading board was close to 20%, and the funds bought on Monday's trading board would be covered by a little carelessness.the situation of the daily trend of Lanying equipment is not only on Tuesday, from Wednesday to Friday, every There will be several companies suffering from stranglehold. However, the head of investment bank of a head securities firm thinks that the practice of the securities firm should not be the industry standard. It is reasonable that the recommendation and underwriting fees of the selective layer should be about 20 million yuan
. "Under the new securities law, the securities firm has a great responsibility. It is a correct policy to brush off some small enterprises with 20 million yuan Slightly"for example, the person in charge said," many small and medium-sized securities companies don't even have researchers on the new third board, and no one has reported on the quotation strategy of public offering, while the powerful securities companies must select companies to report well, which is impossible to cover all aspects". According to statistics, since 2018, the companies whose main board IPO raised funds are less than 300 million yuan, and IPO underwriting and recommendation fees account for the amount of funds raised The average proportion is about 10%new third board seniorPeng Hai, a researcher, believes that if the whole underwriting and recommendation rate is used, the proportion of about 10% for the selection layer is also estimated to be relatively normal
. However, compared with the main board IPO, the three board selection layer underwriting and recommendation requires more work and more difficulty for the securities companies. "The new three board investor group is relatively small, and the difficulty of public offering is relatively small Big
"Peng Hai saidin addition to different investor groups, the three board market reflects different ecological characteristics from A-share and science and technology innovation board market in many details" in A-share mature market, the probability of IPO break is very small, and it is not difficult for securities companies to underwrite. In the new three board selection layer, not all listed companies can succeed in public offering, and investors are not trying to make innovations Shenwan Hongyuan new third board chief analyst Liu Jing analysis
enterprise: a little "15 million yuan higher than the fixed increase charge, which is too hard" since an enterprise in East China decided to apply for the selection layer, the chairman of the enterprise has been consulting the selection layer for recommendation and underwritingbecause the stock transfer Company expressly stipulates that the recommendation and guidance securities companies of the selection layer must Consistent with the host securities firm, the chairman first consulted the host securities firmand the host securities firm reported a price of 15 million yuan. The chairman thought: "our company's annual net profit is between 10 million yuan and 20 million yuan, and this quotation almost eats up the company's profit for a whole year. My psychological price is above and below 5 million yuan
". Obviously, the psychological price of the company and the securities firm newspaper The price is far from each other, and this psychology is not uncommon in listed companies, "the number of investors in the new third board is still small, and it is more difficult to find investors in the public offering than a shares, so we are very worried that the public offering will become a directional additional issue, and finally investors have to find their own
" Zhang Xiaolei, the Secretary of board of directors of Hejia pharmaceutical, is also worried that many new third board companies are to be selected Common concern: "I think the underwriting rate should be determined according to the amount of financing. More than 300 million shares are almost the same as a shares. If it is less than 100 million shares, then it is necessary to increase the underwriting rate by reference, and the securities companies will receive a minimum fee". Meanwhile, Zhang Xiaolei also considers the workload of the securities companies, and believes that the reference to the fixed increase is not enough, but the excessive charging will cause cost pressure on the enterprises鈥 After all, there are too many small and medium-sized enterprises in the new third board company, and the bearing capacity of enterprises is not comparable to that of a shares and a sharesThe reporter of science and technology innovation board
"learned in the interview that although many companies to be selected have entered into the coaching period, they still haven't negotiated with the securities companies on the sponsorship and underwriting fees. Many enterprises only pay a small part of the fees for the initial admission of the securities companies after signing the coaching contract. How to collect the subsequent fees? The two forces of the securities companies and the enterprises are still abundant As of March 27, some of the new third board companies proposed to join the select layer to coach brokers and their progress. After communicating with a number of brokers and companies proposed to join the layer, Cui Yanjun, the founder of the Secretary and his family, found that at present, the recommended fee of the select layer is as high as 20 million yuan, and there are also those who actually only take hundreds of thousands to 12 million yuan. The underwriting fee is generally 6-8%, Some securities companies have the requirement of minimum guarantee"because the average scale of new third board enterprises is small, and only the required proportion of public shares is required after issuance, so some companies have a small amount of issuance. If the minimum guarantee fee is adopted, the underwriting rate is very high. It is suggested that securities companies should consider the characteristics of the majority of small and medium-sized enterprises in the new third board, reduce the charges appropriately, accompany the growth of enterprises, and then follow up Second service fees can be charged from refinancing, board transfer and other aspects. Of course, the recommendation business of the selective layer is complex and also bears professional risks. As an enterprise, it should not be too much price reduction"in the turbulent flow of the global financial market, the original stable ship is also on the cusp of the storm.
as the world's largest sovereign wealth fund, Norway's sovereign wealth fund is In October last year, it reached the market value milestone of NOK 10 trillion (RMB 6.80 trillion), and achieved a record absolute return of NOK 1.69 trillion (RMB 1.15 trillion) for the whole year, with a historically high return of 19.95%. However, in a recent press conference, the outgoing former CEO, Yngve slyngstad, failed to bring good news to investors
As of March 25, 2020, the fund had a loss of NOK 1.33 trillion (about 904 billion yuan) and a loss of 16.17%. As of tonight's press release, the fund's market value was DKK 10.03 trillion (6.82 trillion yuan)
. In the market turmoil, the Norwegian sovereign wealth fund ushered in new helmsman and CEO NicolaiTangenhe founded ako capital in 2005. The Norwegian central bank officials are interested in his rich experience in equity investment, which also matches the current situation of equity investment in Norwegian sovereign wealth funds