--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

Share Flotation Details Announced

One of the four A-share companies selected to pilot non-tradable share sales released details of the scheme Tuesday.

Following a company board meeting, machinery manufacturer Sany Heavy Industries Co Ltd announced that its tradable shareholders will pay 18 million shares and 48 million yuan (US$5.8 million) cash as compensation to non-tradable shareholders.

This means non-tradable shareholders could get 3 extra shares and eight yuan (US$0.97) for every 10 shares they already own.

The company also promised that none of the original nontradable shares will be put on the market or be transferred to others within the first 12 months after floating.

Within the second 12 months after the official adjustment, a maximum of 17,571,630 formerly non-negotiable shares could be put on the market, with not less than 29,571,630 available a further 12 months later.

Of the companies 240 million shares,60 million are currently tradable and another 180 million non-tradable, adjustment will not affect the overall total.

The undertakings have been set out with the aim of controlling the expansion of the market pool and easing traders' concerns of dramatic price fluctuation, said Xiang Wenbo, chief executive of the company.

"I think the compensation is fair and the calculation method is reasonable," said Dong Chen, an analyst at China Securities Co.

A shareholder can get 0.8 yuan (9.7 US cent) per share, which means the yield rate compared to the latest closing price of 16.95 yuan (US$ 2) is 4.72 percent, much higher than one-year bank deposit interest rates and the average A-share bonus level.

"This sets a very good model for following reform," Dong added..

The board meeting's approval has to be passed at the general shareholders' meeting, which will be held early next month.

According to the regulator's requirements, the board meeting's decision can be implemented only when meeting two standards: being approved by a certain amount of negotiable shareholders taking part in the general meeting and representing at least two thirds of the company's negotiable share; being approved by a certain number of shareholders representing two thirds of the total number of the company's shares.

"The public shareholders really have the final say this time," said Zhang Weixing, an economist in Beijing.

But the company should spare no effort to provide the negotiable shareholders with convenient ways to cast their votes, he said.

The company said in its circular that they would provide shareholders with on-the-spot voting, online voting and voting through agent directors.

(China Daily May 11, 2005)

Trial Scheme Scheduled for Nontradable Shares
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 色一情一乱一伦一区二区三区| 97热久久免费频精品99| 日韩爱爱小视频| 亚洲天堂中文字幕在线| 理论片手机在线观看免费视频| 啊灬啊灬啊灬快灬深用力| 久久棈精品久久久久久噜噜 | 国产在线观看一区精品| 日本三级做a全过程在线观看| 国产经典一区二区三区蜜芽| 99精品热这里只有精品| 婷婷色香五月综合激激情| 中文字幕乱码中文字幕| 日本高清视频色wwwwww色| 亚洲18在线天美| 欧美人与性禽xxxx| 四虎国产精品永久地址99| 青娱乐在线视频盛宴| 国产成人悠悠影院| 男女一边桶一边摸一边脱视频免费 | 毛片色毛片18毛片美女| 免费国产午夜高清在线视频| 老阿姨哔哩哔哩b站肉片茄子芒果| 国产偷国产偷精品高清尤物| 麻豆一区二区99久久久久| 国产成人无码av在线播放不卡 | 色综合欧美在线视频区| 国产产在线精品亚洲AAVV| 992tv国产人成在线观看| 天天舔天天操天天干| www.九色视频| 奶特别大的三级日本电影| 一个人看的hd免费视频| 小草视频免费观看| 一级毛片女人18水真多| 性高湖久久久久久久久aaaaa| 中文字幕无线码中文字幕免费| 无码av中文一区二区三区桃花岛| 久久久不卡国产精品一区二区| 日出水了特别黄的视频| 久久中文网中文字幕|