Tangganggufen merger Handan Iron & Steel Chengde first battle
As China’s first cross-listed companies in Shenzhen and Shanghai merger, Tangshan Iron and Steel Shares (7.09,0.00,0.00%) absorbed the merger Handan Iron and Steel and Chengde breakthrough. As of 15 matches by the Shenzhen Branch of China settlement and confirmed by the Shanghai and Shenzhen securities firms reported the number of shares and the number of households account for the proportion of matches over 99%, Handan Iron & Steel, Chengde exchange ratio reached 94%.
The Shanghai and Shenzhen markets absorb and involve three hundred million shares and shareholders, complexity never seen before. Fully into account the interests and convenience of operation, the Shenzhen Stock Exchange, the Shenzhen branch of China settled bold innovation, in just less than 30 trading days this brilliantly laid the ground-breaking hard battle for the future successful implementation of other cross-market listing absorption of the merger the company has laid a solid foundation.
“Tang steel suction and the most important aspect can be said to have been successful.” Relevant person in charge said the Shenzhen Stock Exchange, The Tang steel suction and the whole can be divided into five parts, including program planning and market organization, technical preparations and the shareholders of brokerage accounts clearly nuclear, dissenting shareholders to implement the cash option, the shareholders of Shanghai and Shenzhen securities firms may wish to check the corresponding data, the remaining shares up more than registered shareholders, has successfully completed four tasks. Among them, 11 to 15 broker confirmed that part of the fourth step, after five days of intense work, at 15, matching the account information to participate in the basic feedback received confirmed, to confirm the number of shares and percentage of households over 99 % shareholders a total of 3,061,887,505 shares in circulation 485,259 households completed the Shanghai and Shenzhen stock account matching and recognition, including financial institutions account for 100% completion of the Shenzhen and Shanghai stock matching and confirmation. With restricted shares of selling shareholders identified, Handan Iron & Steel, Chengde convertible generally completed 91.62 percent and 94.20 percent shares account cross-market transfer registration.
Across the Shenzhen and Shanghai as the first listed company merger, Tangganggufen absorption merger contains a number of precedent. First, it’s programs designed to fully take into account the interests and bold innovation, using the most simple way to deal with very complex situation. The absorption and is the largest ever A-share market listed companies in the steel industry acquisitions, not only to the three cities across the Shenzhen and Shanghai stock related to the situation of nearly one million shareholders, vary widely, both financial institutional ownership, personal outstanding shares, has limited offerings, shares are still frozen, pledge and other conditions, and scattered across the country hosted more than 100 member units in thousands of sales department. Shenzhen Stock Exchange, the Shenzhen branch of China several times to consider settlement of the final design of the program so that most investors need not rush.
Second, this absorption and implementation of the program, brokers also contributed to the strong tie. Among them, the China Sea with the Securities and Shanghai Securities managed accounts, respectively 5872 and 4200, the first day of the match on all accounts completed and timely feedback; Guoxin Securities, Shun securities, SW, China Merchants Securities (31.22,0.00, 0.00%), CSC, China and Thailand are hosting more than 10,000 securities accounts managed large, their workload is large, but largely completed in the next day on account of data matching and timely feedback, all matching the current account 99.95%.
Shenzhen Stock Exchange official said, the original Handan Iron & Steel, Chengde conversion Tangganggufen shareholders have managed accounts in its Shenzhen, related brokerage office managed the shareholders can check their holdings for shares can not be found shareholders of the situation should be handled over to the Department of stock brokerages transfer registration. There are still nearly 40,000 more than the shareholders need to apply for registration of share transfer from 18 onwards, this Tangganggufen suction and the last link that I share part of the official start up registration, the Shenzhen Stock Exchange, the Shenzhen branch of China also settled given notice in the brokerage operation of specific programs and notes, brokerage clearing participant shares billing information in database queries to this conversion losses are uncertain of the right data, and accordingly declared by D-COM shares up more than register Stock losses are indeed timely completion of work on the right, to protect the interests of investors.
From the above situation, the merger will be successfully absorbed Tangganggufen ending, Tangshan Iron and Steel will resume trading. Tangganggufen smooth absorption into other cross-market merger will lay a solid foundation, removed the cross-market mergers and acquisitions of listed companies in the future the obstacles to further enlarge and strengthen listed companies no worries.
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