Meng IPO Restricted Shares on the size of the non-money ban size of up to 780 billion.

Recent authoritative report shows that float market capitalization, in 2008, lifting the ban in all types of restricted shares, IPO shares with about 40%, is second only to shares of restricted shares, a change categories. .According to market the latest estimates, the year 2008, IPO of shares lifted the limit of funds required for about 7,800 billion yuan. .<P> (Http://) IPO of shares includes starting the strategic placement of shares, starting institutional placement of shares, starting the original shareholders of restricted shares, these shareholders in a certain lock on this part of the stock received after the circulation of power, can be traded ., institutional investors can be free trading. .Placing and institutions starting strategy although the cost of placing high, but the nature of financial investment are all, therefore, more intense desire to cash. .As for the starting of the original shareholders of restricted shares, the cost even lower than the sale of shares of restricted stock reform, if not controlling shareholders, and its very strong desire to cash. .Therefore, the amount estimated from the above point of view, IPO of shares to bring pressure on the funding needs of even shoved Restricted Shares in the share reform. .</ P> <P> CICC, according to the related report: 2008 annual total will be 148 Restricted Shares IPO ban, lifted shares to 42,358,000,000 shares, beginning of tradable market capitalization of about 1.3 trillion yuan. .But with the A-share market index fell nearly 40%, analysts say: The price is estimated by the end of May 2008, the year the market value of IPO shares with lifting of the ban has been reduced to about 7800 billion yuan, an uncertain part of the IPO in 2008 .The new part of the issue; But overall, the market overestimated the lifting of the ban this part of Restricted Shares negative impact of the actual situation is more optimistic. .</ P> <P align=center> 1 至 5 月 IPO ban large-scale </ P> <P> starting to remove the lower reduction of the original shareholders will, starting on the strategic placement of shares included, starting sector agencies placing of Placing Shares .shares, Galaxy Securities recently reported that: 1-4 months, 2008 lifting of the ban is the culmination of institutional placement of shares, lifting the market value of more than 310 billion yuan; the market from May to December 2008, the pressure lifted a marked decline in the scale of institutional placement shares of 1,300 billion yuan ban .. .</ P> <P> the first five months, starting shareholders of shares lifted orgasm, especially China Ping An, China Life, ICBC and other large strategic placement of the starting heavyweight stocks, lifting the scale of tens of billions every turn, on .billion, causing tremendous pressure on the market. .</ P> <P align=center> 6 月 scale of 20 billion IPO ban </ P> <P> 4 月份 the original shareholders to subscribe for shares starting 12 of thawing, the strategic placement of shares of starting a thaw, thaw starting institutional placement shares .8. .The closing price that day, April 30 Chalco shareholders to subscribe for shares of the original starting amount of approximately 520 thawing billion, April 27 starting the strategic placement of shares of ICBC amount of 16.6 billion thawing. .April 8 listed companies starting body part of the Placing Shares to ban all varieties of small and medium plates, scale lifting of the ban are less than ten billion yuan, 30 billion yuan over the previous three months significantly reduced the average level of 97%. .</ P> <P> 5 月份 thaw starting sector companies placing shares 10, starting the original shareholders to subscribe for shares of the company thawed 3, starting the strategic placement of shares of a thaw, the thaw part of the total amount of about 150 billion .dollars. .Among them, the May 15 Bank of starting the strategic placement of shares of the amount of 139.6 billion yuan thawing, May 5 starting agencies Japan Coal Energy thawing Placing Shares amount to 62 billion. .The remaining small amount of the company thawed, were less than 10 billion yuan. .</ P> <P> According to statistics, in June lifted the scale of IPO shares with 207 million, of which, China COSCO and China Railway Construction relatively large-scale lifting of the ban, this issue will be traded 535 million shares and 4.9 billion .shares lifted the market value of 14.4 billion yuan respectively, and 54 million. .</ P>.