AG亚游官网app

 

Position: > News > Enterprise News > About the ipo pricing related issues of the notice

About the ipo pricing related issues of the notice

AG亚游官网appRecently, the China securities regulatory commission JianGuanBu issued to the issue and gem JianGuanBu sponsor issued the "about the ipo pricing related issues announcement" (hereinafter referred to as the "notice").

Securities related department chief introduction, to carry out the "on further deepening the reform of system of the ipo guidance" (hereinafter referred to as the guiding opinion on) spirit, to strengthen the supervision of the ipo pricing process, strengthen the information disclosure and risk reveals, prompting market participants and bred, responsible, reasonable pricing, rational participation, "notice" for the ipo price on the matters related to clear, make more operational.

One is the clear the industry city is filled with more caliber. "Notice" request the issuer in industry city is filled with comparative analysis, should adopt the index Co., LTD has issued by the China securities regulatory commission industry, according to the classification of the industry guidelines classification price-earnings ratio, specific should choose the issuer by sector last month rolling average p/e ratio is compared. In the issuer calculation ipo p/e ratio, can be made two sets of calculation method: according to the issuer audited accounting year recently business performance computing; According to the issuer or a recent issue of audited financial reporting benchmark has 12 months of business performance calculation. According to the calculation of the latter, need from declaration issued by certified public accountants review opinion.

2 it is clear the issuer, the sponsor must to release pricing rationality and risk factor analysis and disclosure. According to the results of an issuer inquiry worked the issuing price (or releases the price range limit) p/e ratio is higher than the industry average p/e ratio is 25% of the listed company, and the issuer should be held to discuss the board of directors issued pricing confirm, analysis and disclose pricing risk factors and the relevant influence, the lead underwriters on the issuance of the Lord to the rationality of the pricing and risk factors analysis disclosed.

3 it is made clear to submit the hair of major issues will review the situation. Ipo p/e ratio listed company more than the industry average p/e ratio is 25% of the company, if there is the following 3 kinds of circumstances, issuing regulators will press after the meeting major matters of regulations to submit the hair will review: (1) the issuer were calculated according to defined raise financing volume for a raise more than the project is to raise funds into capital requirements, leading to the basic situation of the issuer to major changes, the issuer need to supplement and disclose the relevant risk analysis revealed that might affect the investors of judgment. (2) the issuer were calculated according to determine a raise financing volume exceed the estimated price of calculation raise financing volume, leading to the basic situation of the issuer to major changes, the issuer need to add disclosure to raise funds and related risk analysis revealed that might affect the investors of judgment; (3) the issuer exist the stock issuance examination standard memorandum-about 5, through the hair has to issuing securities company will after the regulation, and sealing work roll matters of the operating rules specified in the need to submit the hair of the audit items will be.

4 it is clear the need to provide the profit forecast of the case. The "notice" explicitly, ipo p/e ratio is higher than the industry average p/e ratio is 25% of the listed company, in principle the issuer should be added to profit forecast and inquiry; The issuer declaration has provided the profit forecast report, but to the pricing of rationality are not fully explain, also need to make an inquiry.

The official stressed that the issuer, sponsors to better understand the guiding opinions "spirit, according to the requirements" notice ", to do a new issues in the process of pricing information disclosure and risk reveals, reasonable pricing. At the same time remind of new shares to investors on the ipo price of all kinds of information, read carefully analyzing risk factors, prudent to participate in, to promote the ipo the deepening of the reform of the system.

Hits:  UpdateTime:2012-06-13 11:28:00  【Printing】  【Close
  • Tel:0755-8297 4448 Fax:0755-8255 2089
  • Copyright © 2015 GUSHI Co.,Ltd. All Rights Reserved.
Online 
Sales MSNSales
Business MSNBusiness
Feedback