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Guangfa Securities backdoor listing and suspension of subscription of two funds under Nanfang


http://finance.sina.com.cn 09:05, June 7, 2006 Shanghai Youth Daily

A report from our newspaper (reporter Xie Lujin) has been confirmed recently with the rumor that Guangfa Securities wants to backdoor Yanbian Highway listing. The South Fund also issued an emergency announcement on suspending its South Stable Growth Fund and South High Growth Fund. It is reported that the above two funds will suspend their subscription, and the specific time for resumption of subscription will be announced by China Southern Fund separately.

In an interview with a reporter, the relevant person in charge of China Southern Fund said that GF Securities wanted to go public by backdoor listing of Yanbian Highway. In view of G Aodong, the largest shareholder of Yanbian Highway and the second largest shareholder of GF Securities, the change of its share price after the resumption of trading will affect the
In order to protect the interests of existing fund share holders, the Company decided to suspend the subscription business of the Southern Robust Growth Fund and the Southern High Growth Fund according to relevant regulations.

According to the analysis of insiders, this move of China Southern Fund has undoubtedly protected the interests of the existing holders of its funds. The above practices can prevent

shares At the suspension stage, the funds "arbitrage" through the purchase of funds with heavy positions in suspended stocks, thus diluting the interests of existing holders.


Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.

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