Thursday, December 30, 2010

Baosteel 3 million additional shares listed on the stock price has hidden below the net assets per share

Yesterday was the issuance of Baosteel B class investors allocated by 2.99 million shares in circulation on relatively large lifting plate, the steel shares stock price trend, though there are zoom in but trading volume remained flat.

Basic Baosteel trend to morning and afternoon can be divided into two phases. Morning stock prices firmer, despite the upward after the drop, but remains a 1% increase. But after the stock price the afternoon opening suddenly decline, then stabilized at Friday closing price.  Close of the stock price falls to $ 4.88, coincided with the last trading day of the fair. Nearly 300 million allocated shares of listing does not appear to have brought on transaction of Baosteel too great an impact. Baosteel full-time contract 41 million units, an estimated 2 billion yuan, the exchange rate of 1.18%, while compared to last Friday, but significantly enlarge in historical transactions still belong to a lower level. If you take into account the share-trading reform, brings the right content, the closing price yesterday actually hidden below the steel shares net assets per share. The current price of Baosteel to send for 10 plus 1 2.2 unit warrant, even if no calculation of entitlement, the share price of $ 4.88 naturally after only 4 element, and the issuance of Baosteel net assets per share reached $ 4.02.

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