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Shanghai Securities cancelled 8 million subscriptions of WISCO

http://www.sina.com.cn 00:00, October 31, 2006 China Securities Network - Shanghai Securities News

□ Our reporter Li Jianfeng

Today, Shanghai Securities announced that the company had recently cancelled 8 million subscriptions to WISCO.

According to the announcement, the number of WISCO warrants cancelled by Shanghai Securities this time is 8 million, and the official effective date of cancellation is October 31. The company has applied to Shanghai Stock Exchange and obtained approval, and China Securities Depository and Clearing Corporation Limited Shanghai Branch has also gone through the corresponding registration procedures.

Recently, with the gradual expiration of WISCO's subscription, securities companies have opened a large number of warrants created by cancellation. By the end of last week, the number of warrants cancelled by securities companies in WISCO this month had reached nearly 300 million, and the cumulative creation of the warrants was also down 39% from the beginning of the month.

As of last week, the number of WISCO warrants held by brokers has reached 82.81 million. Since securities companies often do not immediately cancel the rights and certificates they buy back, they will adopt different strategies depending on the market situation. Therefore, some analysts believe that under the condition that the subscription of WISCO rose by 58.98% yesterday, some securities companies may have once again sold the warrants purchased for cancellation.


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