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Original title: Ant Group’s new H-share funds can be redeemed. The brokers have stated that they will bear the related costs
Every time reporter Yuan Dong Every time editor He Jianling
On the night of November 3, Ant Group (06688, HK) announced that it decided to suspend the listing of the company’s A shares on the Science and Technology Innovation Council, and the simultaneous listing of H shares will also be suspended on the Hong Kong Stock Exchange.
In fact, the IPO of Ant Group’s H shares ended on October 30 and the sale of Ant Group’s H shares was very active. However, due to the suspension of Ant Group’s listing, the funds for the purchase of its H shares will be returned.
The “Daily Economic News” reporter learned that there are many differences between the H-share renewal and the A-share renewal. In this regard, some brokerage firms have reduced funding interest and some brokerage firms have even waived financing interests. In addition, the suspension of Ant Group’s listing has also had a certain impact on the Hong Kong stock market. Some related stocks have fallen to varying degrees.
Data source: the reporter compiled a visual map of China and Liu Hongmei’s drawingNew H-share funds will be repaid in two lots
On the night of November 3, Ant Group announced on the Hong Kong Stock Exchange that it had received a notice from mainland Chinese regulators on November 3, due to the fact that the actual controller, CEO and manager general company were subject to supervisory interviews and the financial technology regulatory environment. Changes and other significant issues can cause the company to fail to comply with relevant listing and listing conditions or disclosure requirements. Therefore, it was decided to suspend the listing of A shares of the company in the Council of Scientific and Technological Innovation, and the listing of H shares in the main board of the Hong Kong Stock Exchange will also be suspended.
On November 4, Ant Group announced again that due to the suspension of the listing of H shares, the initial public offering of H shares and the listing of H shares will not take place according to the schedule set out in the prospectus. In addition, Ant Group also announced agreements for the return of application funds for the Hong Kong public offering: application funds for the Hong Kong public offering (along with 1% brokerage commission, 0.0027% transaction fee of the Hong Kong Securities Regulatory Commission and 0.005% Hong Kong Stock Exchange transaction fee) Will be returned in two lots (Nov 4th and 6th) without interest.
Indeed, since Ant Group publicly announced that it would go public, the news has boosted relevant stocks in the market, some stocks have continued to hit record highs, and market institutions have mostly commented positively on Ant Group. The suspension of Ant Group’s listing may have a certain impact on the market.
Ye Shangzhi, chief strategy analyst at First Shanghai Securities, told the “Daily Business News” reporter: “At present, the suspension of Ant H shares, on the one hand, the valuation of technology shares and financials may have to be reassessed, on the other hand, this year’s IPO boom may have a cooling effect. “
In addition, before the announcement of the suspension of listing of Ant Group, the market had a rational view of the voice of Ant Group. The journalist noted that some market participants noted that: “Based on the updated data in the prospectus, if annual revenue and net profit growth over the past three years are conservatively estimated at around 40%, the value of Ant A stock market is 2.1 trillion yuan. Valuation is 52 times. If you think of Ant Group as a technology company, then the valuation you enjoy is obviously reasonable, which is also the main view in the current market. This is also the Ant Group IPO process. It is an important reason to downplay its financial attributes and emphasize its technological attributes. But if you consider Ant Group as a finance company, then look at it in several or ten times the valuation of the current finance company is obviously Overvalued. “
Many brokerages cut new costs
The suspension of the Ant Group listing is, of course, one less opportunity for investors. At the same time, Ant Group is a super large market capitalization company that the market has focused on, I think there will be some regrets for investors who have already subscribed.
Ye Shangzhi told the “Daily Economic News” reporter: “Ant Group’s response to the initial public offering of H shares is very enthusiastic. Due to the suspension of the listing, the actual underwriting data is not known. However According to previous market news, the public offering has been received almost 400 times. For investors who subscribed for the new Ant Group H shares, the subscription money will be fully refunded, but if they subscribe through financing margin (margin), margin financing Reimbursement of the interest portion depends on the internal arrangements of the individual brokerage firms. “
Based on information from a single brokerage firm, Futu Securities told reporters that based on the latest data, the total number and number of people who subscribed for Ant H shares through Futu Securities has set its own previous records. of Futu Securities. At the end of the subscription on October 30, the number of clients who finally subscribed for Ant H shares by Futu Securities exceeded 206,780 and the final subscription amount exceeded 48.1 billion Hong Kong dollars.
The reporter noted that the procedures and methods for the new Hong Kong shares and the A shares are in fact very different. Many investors in Hong Kong stocks will use the financing to initiate new transactions. Some brokerages even allow up to 10 times financial leverage to initiate new transactions and provide new users with 0%. Principal comes to new services. In this context, investors will have a certain financing cost (financing interest). However, the reporter learned from the market that some brokerage firms reduced the financing interest from 3.9% to 2.5%. Furthermore, Futu Securities also told reporters that the company will exempt all participating clients from subscription fees and all bank financing interest, and the related costs will be borne by the company.
According to Tiger Finance, Tianfeng International Securities and Futures issued an announcement stating that, since the subscription fees for Hong Kong stock IPOs and financing interest are generally non-refundable, to help clients reduce the losses, Tianfeng International decided to exempt all of Tianfeng International from participating in the Ant Group IPO. Customer subscription fee and financing interest.
