![<?echo $_SERVER['SERVER_NAME'];?>](/template/twentyseventeen/skin/images/header.jpg)
[Li Jiacheng clearance "sequel"? Gree's tender offer to blow up the long-term "flash collapse" doubts unsolved] "Grely Group's termination of this tender offer is leaked in advance, the listed company is not clear here, and there is no way to confirm, we were yesterday afternoon (12th) afternoon closing The documents received only." The relevant person of Changyuan Group told the 21st Century Economic Reporter on June 13.
Gree Group has more than 5.2 billion yuan to acquire 20% of the shares of Changyuan Group (600525.SH), but the mystery of Changyuan Group's share price has not been answered.
According to the announcement on June 13, Changyuan Group received the letter of Gree Group on the termination of the tender offer for the shares of Changyuan Group Co., Ltd. on June 12, because the Zhuhai Municipal Government SASAC disagreed with the acquisition plan submitted by Gree Group. It was decided to terminate the offer to acquire the shares of Changyuan Group.
But what is embarrassing is that the Changyuan Group, which had a slight increase in the stock price on the morning of June 12, suddenly emerged as a waterfall crash in the afternoon, and finally closed down with a daily limit, and the daily volume ratio was enlarged to 10.75 times, and after the 13th was significantly lower. , closed at 13.99 yuan / share, a decrease of 2.98%.
“When the Gree Group terminated the news of the tender offer, it was leaked in advance. The listed company is not very clear here, and there is no way to confirm it. We were the documents that were received only after the closing of yesterday afternoon (12th).†Relevant persons of Changyuan Group 6 On the 13th, I told the 21st Century Business Herald reporter, "We also learned that Gree Group terminated the acquisition after receiving the documents, and we are full-text announcements."
More than 2% of shares need to be sold
According to the announcement of Changyuan Group on June 13, Gree Group also received a reply from the Zhuhai Municipal Government's State-owned Assets Supervision and Administration Commission on the acquisition plan submitted by Gree Group on June 12.
In the June 12 trading limit of Changyuan Group, the largest selling amount was Guotai Junan Securities Guangzhou Renmin Middle Road Sales Department, which reached 217.087 million yuan, followed by Yintai Securities Shanghai Jiashan Road Sales Department, Guangfa Securities Shanghai Dongfang Road Sales Department, China Merchants Securities Shenzhen Fuhua Third Road Sales Department and agency-specific seats, the sales amount of 31.136 million yuan, 31.148 million yuan, 21,865,600 yuan and 170.728 million yuan.
The 21st Century Business Herald noted that the Changyuan Group received a letter from Gree Group on May 10 this year. The stock price did not change, and the closing price was zero, and the trading was suspended from May 11. Until May 19, the summary of the tender offer report (revised draft) was disclosed and resumed on May 21, and the share price rose by 3.8% on the day of the resumption of trading.
According to the announcement at the time, Gree Group intends to acquire 265 million shares that account for 20% of the total share capital of Changyuan Group. After the successful completion of the tender offer, Gree Group and its concerted actions will jointly hold 22.05% of the shares of Changyuan Group. Gree Group also said that it does not rule out the continued increase in shares of Changyuan Group by participating in private placement, share allotment and convertible bonds.
Gree Group's proposed offer price is 19.8 yuan / share, Longyuan Group's share price premium before the suspension of the game is 14.06%, the total amount of funds required for the acquisition is 5.246 billion yuan, and on May 11th, 1.05 billion yuan will be deposited into the registration and settlement company Shanghai Branch. The company designated the account as the performance guarantee for this tender offer.
But the deal, which was rated as a win-win and seemingly hard-pressed deal, fell in less than a month.
"(The termination of the acquisition) is the decision of the Zhuhai SASAC, the reason is not clear." The aforementioned Changyuan Group people told the 21st Century Business Herald.
The stock price of Changyuan Group did not "success" after the disclosure of Gree Group's proposed tender offer. From the resumption of trading on May 21 to June 11, before the limit, the loss was 7.72%, which was 1.34 yuan/share before the suspension. .
However, this time the tender offer was lost, and the injured Changyuan Group's share price will face pressure from the relevant parties to reduce their holdings.
The announcement shows that if the tender offer does not meet the conditions for entry into force, Gree Group and its concerted actions will reduce the total shares of the Changyuan Group held by the company within 6 months from the expiration of the offer period. At present, Gree Group has acted in concert with Zhunuo Free Trade Zone Jinnuoxin Trading Co., Ltd. and Zhuhai Gree Financial Investment Management Co., Ltd., which together hold a total of 27,194,400 shares of Changyuan Group's 2.05%.
The shares of the Changyuan Group held by the above-mentioned Gree Group are all bought through the secondary market from March 14 to April 12 this year. The increase price is between 16.2 yuan/share and 17 yuan/share, even if it is the lowest. The purchase price is also 13.64% lower than the closing price on June 13.
Li Ka-shing clearance of "sequel"
In addition to the concerted actions of Gree Group, the largest shareholder of Changyuan Group, Shenzhen Zangjin No.1 Investment Partnership (Limited Partnership, hereinafter referred to as Zangjinhao) and its concerted actors also plan to reduce their holdings by means of centralized bidding. 1% of the company's total share capital, the reduction time is from June 14th to September 14th this year.
It is worth noting that the above-mentioned reduction plan was released on May 24th after the Changyuan Group disclosed the Gree Group's proposed tender offer, and was interpreted by the market as giving way to Gree Group. However, Gree Group previously responded to the Shanghai Stock Exchange's inquiry letter, saying that its offer for the tender is not for the purpose of seeking control of the Changyuan Group.
According to the Tibetan Mastiff and its concerted action, the main body of the concerted action is 29 shareholders, holding a total of 24.3% of the shares of Changyuan Group, of which 7.84% of the shares are the most.
"At present, the company still has no controlling shareholders and no actual controllers. The situation of relatively scattered equity has been going on for several years." The relevant Changyuan Group people told 21st Century Business Herald, "In fact, this state is very common in foreign countries. With the development of the company, equity is continuously diluted, and there are entrants who have exits, but it does not affect normal operations."
In fact, the Changyuan Group, which was listed in December 2002, its promoters and controlling shareholders have long been the “Superman†Li Ka-shing family-controlled Changhe Investment Co., Ltd., until the end of 2012, its shareholding ratio was 35.76%, which is also the Li Ka-shing family. The only platform for a listed company.
However, since January 2013, Changhe Investment has continued to reduce its holdings of Changyuan Group. By January 2014, Changyuan Group has announced that it will become a listed company without controlling shareholders and actual controllers, and Changhe Investment also realized in the same year. Clearance.
Since then, the management team of Changyuan Group has sought to obtain control through the curve MBO method, but after the arrest of the oriole, in May 2014, Wal-Core (002130.SZ) and the actual controller and chairman Zhou Heping announced The brand Changyuan Group, and soon became the largest shareholder.
As a result, the two sides launched a long-running battle and dispute over the control of the Changyuan Group until the beginning of 2018, under the involvement of the Shenzhen Securities Regulatory Bureau and the Shenzhen Securities and Futures Industry Dispute Mediation Center, the two sides were on January 9 and 18 respectively. Japan signed a settlement agreement and a supplementary agreement.
According to the announcement, Wal-Mart and its concerted parties promised not to increase their holdings until the current holding of the shares of Changyuan Group was completed, and Changyuan Group agreed to transfer Changyuan Electronics to Wall Nuclear Materials at a price-to-earnings ratio of 15.9 times. 75% of the shares of (Group) Co., Ltd.
According to a 21st Century Business Herald reporter, the former holding of 24.97% of the Longyuan Group's Wal-Core materials and concerted parties, through the reduction and transfer, the current shareholding has dropped to 10.47%.
"The company's main management team is still the original people, no change, but the management team has very few shares, can not play a controlling role, the company hopes that shareholders can support the company's development." The above-mentioned Changyuan Group said.
1000 Portable Power Station,1000 Portable Power Station Price, 1000 Portable Power Station product
Jiangsu Zhitai New Energy Technology Co.,Ltd , https://www.zhitainewenergy.com