The
In fact, since the second half of 2011,wow gold, the IPO market began to experience winter. Speed ​​diminished with the issue, the issue of high prices of the corresponding IPO frequently break, playing a new lose money effect of further spread. 5 new shares listed since January this year, four below the issue price to participate in the 11 fund a dozen new Fukui over 21 million yuan. No wonder the fund companies choose to knowingly circumvent the new shares risk.
institutional investors leave the market hit a new amount of money dropped to freezing point. According to analysts, the New Year, the first week of 52.3 billion yuan to fight the new total funds hit the lowest since the restart of the IPO, nearly 36 percent less than the lowest level of 81.6 billion yuan last year, and last year’s weekly average of 360 billion yuan , a drop of up to 85%. In this case, the Company issued the risk of failure increased Langma information to participate in the inquiry body short of the statutory 20 was forced to suspend the issue, following the second Baling Technology IPO failed company.
Guo President took office and financial work conference, the voice on the reform of the system of issuing new shares higher and higher, including a large part of the proposal is directly aimed at institutional investors. However, in the current environment, institutional investors have been caught would rather not participate in, and do not want to report low-cost, reducing the cycle of the IPO price level, which had thought-provoking.
A shares, the secondary market, there is a violation of the principles of economics demand outstrips supply, and their purchase of various funds. Despite the recent institutional investors began to circumvent the new shares risk, but the reason, or because the market is too downturn after the listing of short-term gain is poor, rather than other. Many organizations also said that the market upturn will continue to actively participate in the IPO market. A secondary market
that this supply and demand There is no doubt that the 2012 new share issue an urgent need for an in-depth reform, but in a more rational,wow gold, after the issue of reform since 1999, a total of seven, a market risk-free profit of gradual convergence trend, while the earnings release overall regression trend, and therefore can not be pinning his hopes on the 2012 IPO reform, overnight will be to resolve all problems. From the management’s statements can be found, in 2012 the most important task is to solve the false statements, and strengthen the duties of intermediaries to implement the expansion of the inquiry range.
First, to combat the false statements as an important entry point. IPO pricing
the one hand, Guo President since he took office last year, and eliminate a lot of violations, criminal events, including the penalties of false statement. Which there are adverse consequences for the high prices brought the issue of the false statements, misleading investors, from the Commission on the issuance examination committee, field research and over and over again to strengthen the audit requirements, you can see. Guo President stressed that
the other hand, the distribution company in the cosmetic results of the internal impulse, seriously exaggerated price, must be given to combat the typical irregularities. From the experiences of newly listed companies have a whitewash report, to varying degrees, raise the performance of inner impulse. Regulation of the issuing company in the very lack of self-discipline, it is necessary to upgrade and strengthen as much as possible weakening of the issuing company may bring the secondary market bubble and premium risk.
followed strictly to strengthen the intermediary liability. The existence of the common interests of intermediaries and listed companies, intermediaries lack of integrity activities also contributed to the issue of new shares one of the reasons of the price artificially high. In fact, the cosmetic results of some listed companies, even the results of false, misleading investors expect,wow gold, no reason to increase the market risk, the intermediary can not shirk its responsibility. Some intermediaries lack of good faith, disregard of professional responsibilities, and a poor sense of performance of their duties, to boost the Intermediaries and distribution companies to form a community of interests, it is necessary to increase the policy supervision and responsibilities of punishment.
Finally, in the inquiry range, increase the
institutional investors leave the market hit a new amount of money dropped to freezing point. According to analysts, the New Year, the first week of 52.3 billion yuan to fight the new total funds hit the lowest since the restart of the IPO, nearly 36 percent less than the lowest level of 81.6 billion yuan last year, and last year’s weekly average of 360 billion yuan , a drop of up to 85%. In this case, the Company issued the risk of failure increased Langma information to participate in the inquiry body short of the statutory 20 was forced to suspend the issue, following the second Baling Technology IPO failed company.
Guo President took office and financial work conference, the voice on the reform of the system of issuing new shares higher and higher, including a large part of the proposal is directly aimed at institutional investors. However, in the current environment, institutional investors have been caught would rather not participate in, and do not want to report low-cost, reducing the cycle of the IPO price level, which had thought-provoking.
A shares, the secondary market, there is a violation of the principles of economics demand outstrips supply, and their purchase of various funds. Despite the recent institutional investors began to circumvent the new shares risk, but the reason, or because the market is too downturn after the listing of short-term gain is poor, rather than other. Many organizations also said that the market upturn will continue to actively participate in the IPO market. A secondary market
that this supply and demand There is no doubt that the 2012 new share issue an urgent need for an in-depth reform, but in a more rational,wow gold, after the issue of reform since 1999, a total of seven, a market risk-free profit of gradual convergence trend, while the earnings release overall regression trend, and therefore can not be pinning his hopes on the 2012 IPO reform, overnight will be to resolve all problems. From the management’s statements can be found, in 2012 the most important task is to solve the false statements, and strengthen the duties of intermediaries to implement the expansion of the inquiry range.
First, to combat the false statements as an important entry point. IPO pricing
the one hand, Guo President since he took office last year, and eliminate a lot of violations, criminal events, including the penalties of false statement. Which there are adverse consequences for the high prices brought the issue of the false statements, misleading investors, from the Commission on the issuance examination committee, field research and over and over again to strengthen the audit requirements, you can see. Guo President stressed that
the other hand, the distribution company in the cosmetic results of the internal impulse, seriously exaggerated price, must be given to combat the typical irregularities. From the experiences of newly listed companies have a whitewash report, to varying degrees, raise the performance of inner impulse. Regulation of the issuing company in the very lack of self-discipline, it is necessary to upgrade and strengthen as much as possible weakening of the issuing company may bring the secondary market bubble and premium risk.
followed strictly to strengthen the intermediary liability. The existence of the common interests of intermediaries and listed companies, intermediaries lack of integrity activities also contributed to the issue of new shares one of the reasons of the price artificially high. In fact, the cosmetic results of some listed companies, even the results of false, misleading investors expect,wow gold, no reason to increase the market risk, the intermediary can not shirk its responsibility. Some intermediaries lack of good faith, disregard of professional responsibilities, and a poor sense of performance of their duties, to boost the Intermediaries and distribution companies to form a community of interests, it is necessary to increase the policy supervision and responsibilities of punishment.
Finally, in the inquiry range, increase the
, based on the various interests of the sponsors, underwriters and inquiry objects connection, so even if the inquiry agency has pricing power, also played out in reality, in most cases, but the market play misleading to ordinary investors, there is no right to speak. Prior to
If you can not cut off inquiry undue interest associated with the detailed provisions of the inquiry and placing the object online and the proportion can not gradually, orderly release of new shares issued in the Show scarce, I hope the 2012 Inquiry range of administrative controls can be further reduced, more market-oriented.