Sina Finance

Shenzhen Development SFC2 has terminated listing and exercised more than 95 million shares

http://www.sina.com.cn 02:50, June 30, 2008 China Business Daily

According to the company's warrant listing announcement, SZSE SFC2 warrants will be terminated from today. June 27 is the last day of the exercise period of SZSE SFC2 warrants. As of the end of the trading time on that day, 95388057 SZSE SFC2 warrants had been exercised, and 8949860 had not been exercised, which had been cancelled.

The SFC2 warrant of Shenzhen Development Bank is one of the consideration paid during the share reform of Shenzhen Development Bank A (00000 1. SZ). The exercise price of the SFC2 warrant of Shenzhen Development Bank before was 19.00 yuan, that is, every investor holding one SFC2 warrant of Shenzhen Development Bank has the right to purchase one share of Shenzhen Development Bank A at the price of 19.00 yuan during the exercise period.

As the closing price of Shenzhen Development A on June 26 was 21.60 yuan, the price of Shenzhen Development SFC2 warrants when the transaction was terminated was 1.731 yuan. Based on the above price, if the investors holding SZSE SFC2 warrants exercise on the last trading day, each warrant can gain nearly 1 yuan of income. However, on the last exercise day, June 27, Shenzhen Development A closed at 19.44 yuan with a limit decline. In this view, combined with the cost of purchasing SFC2 warrants of Shenzhen Stock Exchange, not every exerciser will make a profit.

According to the above exercise price and exercise quantity, Shenzhen Development A will therefore receive 1.812 billion yuan. Guojin Securities According to previous analysis, since the exercise method is new shares, Shenzhen Development A will also be able to increase the capital adequacy ratio through warrant exercise.


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