Xinjiang Meike Chemical second time listing of the " lightning death" , apparently could not stop other businesses to quickly return to the IPO withdrawals impulse . Last week, the news show from Tianjin Securities Regulatory Bureau , with Meike Chemical , as in March this year, IPO companies ' financial verification " sensitive period , from GEM queuing sequence cancellation of Construction Division Machinery ( Tianjin ) Co., Ltd. , recently counseling IPO application submitted again . The difference is that this time , building families counseling agencies have been listed machinery from the original Bohai Securities , Morgan Stanley Huaxin Securities replaced .
According to Shanghai Securities News reported , in addition to the changes listed counseling agencies , and Meike Chemical same cancellation less than six months the second time machine built by GEM IPO also choose to give up , but Meike Chemical switch is Shanghai , built Division of mechanical instead defected is small plates .
Built by mechanical declared that because " GEM pressure " , as "pressure" from which side, right strategy for consideration called " GEM companies queuing too many enterprises ." Then they said the company is currently in the quiet period , should not be seen too multi- position.
Back to check the information , the Commission on March 22 this year, disclosed IPO declare Fact Sheet shows that week , to be listed on the GEM of Anshan colorful chemistry, Guiyang Xintian medicine, environmental protection and built by Jiang Su Ruifan machinery withdrawn IPO applications. Withdrawals , the Construction Division of the IPO machine states are: to implement feedback in the . At this time, from week to go until deadline IPO corporate self-examination .
"This time withdrawals , in time, indeed more sensitive ." Yesterday, brokerage investment bank said . Meanwhile, the investment bank believes that , in order to GEM " line pressure " on the grounds explained withdrawals , it seemed more far-fetched. Now as of August 29 this year, GEM case table shows that reporting companies , the current line up to be a company listed on the GEM number 263 ; same period , to be listed on the Shenzhen Stock Exchange ( mainly small plates ) the number of enterprises was 310 . Obviously, Shenzhen board queuing enterprises also slightly more than the GEM business.
In view of this , the investment bank that withdrawals from a business point of view it should cause. Investment banks generally believe that , in fact, GEM and small plates difference is not very large, so that the original declaration GEM companies can be changed to declare small plates . From the basic requirements of the GEM Listing see : First, growth requires strong, experienced a longer period of time can "queue " , many companies in this area really a great pressure ; Second, trade restrictions , namely whether it is State support emerging industries ; Third, the level of scientific and technological level , whether they are high-tech enterprises.
The case was built by mechanical point of view , according to the company's official website, its products mainly include : CNC steel stirrup bender , CNC -way mobile slant bar bending center , CNC steel mesh welding production lines , CNC bar straightening cutting machine, CNC steel roll cage welding machine and so on. Our products are widely used in high-speed railways, highways , nuclear power plants and various civil construction fields.
" It would appear that a machine automation machinery built by enterprises, service mainly for high-speed railways, highways , nuclear power plants , etc. Therefore, from the industry point of view is not a big problem ." Investment bank said , so, the cancellation of motivation perhaps and corporate management and investors about the attitude . Reporters noted that the construction machinery division released in November 2011 have been disclosed in the public listing of counseling , the Company's shareholders include Shanghai Venture Capital Co., Ltd. Chong Shun Tak Tianjin Binhai Angel Venture Capital Limited.
Second degree checkpoints bad way to go
People remember that, from the end of March this year, the GEM list of withdrawals proposed IPO Meike chemical, June 21 in Shanghai IPO companies queuing to re-enter the squad after July 17 will encounter " terminate the examination . " This makes the market has been concerned about the " re-launch of the first cancellation enterprise " case , with " quick death " ending end.
Built by mechanical energy out of this "vicious circle " do ?
In fact , the industry has long been anticipated IPO withdrawals corporate comeback , the reason is very simple: the cancellation corporate way limited. But the reality is the case of cancellation return business is not much to see now , has only been found in the chemical industry and built by Meike these two machines , but rather acquisitions, backdoor , leaving for overseas listing , and even changed to the "new three board listed " the news followed .
However, the " shell" constantly pushed up prices , has led to increased costs backdoor . Meanwhile, with the climax of the first wave of mergers and acquisitions gradually gentle , "swarm " type acquisitions highlights uncertainties , as well as the market for mergers and acquisitions , " conceptual select" increasingly strong, coupled with the pressure of not less than the IPO acquisitions and other factors, will inevitably lead to cancellation corporate comeback scene appears . "Now why did not appear withdrawals corporate return tide, probably because IPO floodgates yet , most companies do not want to " succeed "it ." An investment bank said.
Of course, does not rule out some of the original to be listed enterprises, through the rationalization of the company share reform system, standardized corporate governance after the listing of cases really give up . It is learned that brokers have had this experience : its underwriting of a home to be the actual control of listed companies , the company has completed most of the program early , pre- disclosure of material presented on the eve of a sudden withdrawal of the application materials insisted , and in accordance with the previous conditions agreed with investors , investment return and compensation for all the interest, the final will also have to replace all the management team into Taiwan .
It seems that market, and sometimes also on impulse . Impulse is the devil , when companies think twice .
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