Management, maintaining the second trick: regulation and financing rhythm

Had hoped that implementation of the Beijing Olympic Games and before the listing of the CSR group, because the recent delay access to the official approbation supervision departments and delayed the process of A stock listing. Analysis finds that the Commission maintain a stable second trick, just point to the rhythm of regulation and financing.

CSR group financing with variables

(Http://) CSR group responsible for the listing of the company parties indicated that, although the CSR Group at the end you have obtained the Commission's examination of the company approved A stock listing, but has not yet received formal approval from regulatory authorities, and the company recently issued by the Hong Kong H-shares listing and hearing, and h-shares listing syndicate on the analyst's work has also been pre-installed Roadshow.

Due to the rhythm of approval by the Commission control, should the company plans to complete before the Beijing Olympics A stock listing on the Mainland, now you can only see the progress of documents received before deciding to start Roadshow and listing of schedules. H-shares listing process and road show will be subject to A review of the IPO, filled with variables.

It is understood that, due to the recent volatility in the stock market has been, and is also close to the Olympic Games, without the official approval of the Commission is not a South car group and, in accordance with previous practice, through the examination and approval, the companies generally in two weeks you can get the official approval of the Commission to launch Roadshow and listing.

Large financing may slow

The "A + H" shares, the CSR group plans to release no more than 30 million shares of A stock and not more than 20 million shares of H stock in Hong Kong and Shanghai to raise a total of 150 billion to 156 million, is typical of the market share.

It is worth noting that if prior to the start of the Olympics still cannot get the formal approval of the Commission, the CSR Group also face additional half annual report. As if into September, will be listed in accordance with the provisions to the Commission annual report supplement half of financial information, which has hundreds of several level subsidiaries of CSR group, it will be a $ time-consuming work. Prior to that, the continent's largest gold mining company, A unit of the return is due to the Commission an annual report after the event information to postpone listing a few months.

Another heavyweight A unit, intended to raise funds of over 400 million yuan of Chinese architectural listing plan also face the same problem, namely an initial approval, but failing to have final approval, but the above example does not represent a complete halt all listing. In China, there is still a lot of small scale than it can successfully approved applications, but mostly small to $ 1 billion in small business.

Perhaps this "size is" phenomenon, reflecting the Commission's fear that A unit of large fund-raising activities, will combat confidence still weak in A unit.