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Recently, the listed companies that have launched warrants, such as G Wuhan Steel and G Baosteel, have seen a large increase. So, what is the impact of the warrants of those listed companies that have launched warrants but have not started share reform? Industry insiders generally believe that there is a great deal of variability in the profits of the fund due to the creation of warrants by securities companies.
According to market data, since November 22, the share price of G WISCO has risen from the highest of 2.53 yuan to 2.95 yuan, up 16.6%; G Baosteel rose from 3.88 yuan to 4.01 yuan, up 3.4%. In addition, market analysts also invited investment
The recent rise of banks is linked to the creation of warrants by securities companies. China Merchants Bank rose from 6.10 yuan at the closing on November 22 to 6.47 yuan at the closing on Friday and Thursday, up 6.1%.
Influenced by the rise of these funds' heavy holdings, the Shanghai 50ETF fund, whose target is the Shanghai 50 Index, which represents the large blue chip market, changed its performance from mid September to mid November. From November 23 to Friday, the Shanghai 50ETF rose nearly 2%, while the Shanghai index fell slightly by 0.2% over the same period. According to the statistics of Tianxiang, the funds of Anshun, Jinyuan, Penghua 50, etc shares The net value performance of the Fund has improved significantly recently.
Liu Wendong, deputy general manager of Penghua Fund Investment, believes that due to negotiable securities There is a strong mutual restriction between different counterparties in the market, and the fund company does not believe that the warrant trading price will significantly exceed the warrant theoretical price for a long time. If the price of warrants returns to a reasonable and rational price range, it is impossible for the fund to obtain excess returns from the warrants created by securities companies.
Some insiders believe that the stock circulation market value of "warrant creation plate" is very large, and the total scale of the warrants created by the securities companies is limited by the capital strength of the securities companies. In the future, the positive shares of these warrants will not be greatly affected by the warrants created by the securities companies. (Sanshi)
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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