citic securities Set a record of 500 million in a single day
Securities Times reporter Liu Yun
In recent two weeks, the put warrants of China Southern Airlines ushered in a small climax created by securities companies. As of September 25, the number of put warrants of China Southern Airlines that had not been written off created by securities companies reached 9.375 billion, and the total number of put warrants of China Southern Airlines in circulation on the market reached 10.775 billion, 7.7 times the initial issuance of 1.4 billion.
According to the statistics of the Information Department of this newspaper, since September, securities companies have created 2.858 billion put warrants of China Southern Airlines, including CITIC negotiable securities 1.5 billion, accounting for 52.5%. Data shows that CITIC Securities created 500 million put warrants for China Southern Airlines on September 14, breaking the previous record of 420 million put warrants for China Merchants Securities in a single day.
Statistics also show that from June 26 to September 25, CITIC Securities created 2.47 billion put warrants of China Southern Airlines, accounting for 26.3% of the total number of securities companies that had not written off, becoming the largest number of securities companies that created such warrants.
Wang Shiming, an analyst with CSC Securities, believes that CITIC Securities' recent additional issuance has increased its net capital by nearly 25 billion yuan. Theoretically, CITIC Securities after the completion of the additional issuance can create another 2 billion Southern Airlines' put. Since CITIC Securities has created 1.5 billion China Southern Airlines' put in recent two weeks, the company should also create 500 million China Southern Airlines' put.
In addition to CITIC Securities, several newly established innovative securities companies have also started to build warrants of China Southern Airlines, embarking on a new journey of innovative business. In September, Industrial Securities, Nanjing Securities and Shanxi Securities successively set up 175 million, 160 million and 60 million Southern Airlines subscriptions. Industry insiders said that compared with many other securities companies that have established a scale that is close to the upper limit of 30% of net capital on China Southern Airlines' put, these securities companies will gradually increase their efforts to create warrants.
In addition, with the continuous increase of net capital of securities companies through different channels, the number of securities companies eligible for warrant creation is increasing, and the number of China Southern Airlines' put creation will continue to increase.
Compared with the continuous increase in the volume of creation, the price of China Southern Airlines put warrants has been declining recently. Since September 12, the warrant performance of China Southern Airlines has been weak, falling to 1.518 yuan on September 24, and rebounding slightly in the following two days. According to the public information from the Shanghai Stock Exchange, despite the increase in the number of put warrants created in the past two weeks, the number of China Southern Airlines put warrants that have been created but have not yet been sold by securities companies is still as high as 1.771 billion, accounting for 16.43% of the number in circulation on the market. The insiders pointed out that it can be seen from this that the securities dealers are not very satisfied with the current price, and they expect the warrants to perform better in the future to obtain greater returns.
