當(dang)前,借“殼(ke)”上(shang)市冷(leng)清、“殼(ke)”價值縮水(shui)。不(bu)過,“殼(ke)”交易(yi)并未中止。近期華菱(ling)星馬(ma)、ST智(zhi)慧、希努爾、威華股(gu)份、寶(bao)莫股(gu)份等多家上(shang)市公(gong)(gong)司發(fa)布股(gu)權轉(zhuan)讓公(gong)(gong)告,部分公(gong)(gong)司實(shi)際控制(zhi)人可能(neng)變(bian)更(geng),買方和賣方均(jun)不(bu)乏資本市場的(de)“老面孔”。
對(dui)于股權轉讓案(an)例增多是否意(yi)味著“殼(ke)”交易再度(du)活躍,業(ye)內(nei)人(ren)士看法不一(yi)。多位人(ren)士表示,盡(jin)管并購重(zhong)組受(shou)監(jian)管約束較多,但資產借“殼(ke)”上市的(de)需求仍然存在。隨著退市制(zhi)度(du)建設有序推(tui)進,一(yi)些“殼(ke)”公(gong)司將面臨較大的(de)退市壓(ya)力(li),實際控制(zhi)人(ren)可能(neng)會(hui)降低心理預期(qi),抓緊賣“殼(ke)”。總之,“殼(ke)”價值正在分化。
“專業戶”與“老面孔”
近期股權轉讓(rang)案例的(de)一個特(te)點(dian)是,賣方不乏重組“專業戶(hu)”,買方不乏活躍(yue)的(de)資本市(shi)場“老面孔”。
華菱星馬(ma)(ma)6月19日發布(bu)公(gong)告稱(cheng),恒(heng)(heng)天(tian)(tian)集團成(cheng)為(wei)公(gong)司(si)股(gu)(gu)權轉(zhuan)讓(rang)受讓(rang)方(fang)。本次股(gu)(gu)份(fen)轉(zhuan)讓(rang)完成(cheng)后(hou),恒(heng)(heng)天(tian)(tian)集團持股(gu)(gu)將占公(gong)司(si)總股(gu)(gu)本的(de)(de)15.24%,成(cheng)為(wei)控股(gu)(gu)股(gu)(gu)東(dong)。買(mai)方(fang)“恒(heng)(heng)天(tian)(tian)系”近年大(da)(da)(da)力整(zheng)合旗下上市公(gong)司(si),重組了中國(guo)服裝(現“新(xin)洋豐”)、恒(heng)(heng)天(tian)(tian)天(tian)(tian)鵝(現“華訊(xun)方(fang)舟”)、恒(heng)(heng)天(tian)(tian)海龍,目(mu)前是A股(gu)(gu)的(de)(de)經緯紡機、B股(gu)(gu)的(de)(de)凱馬(ma)(ma)股(gu)(gu)份(fen)、港(gang)股(gu)(gu)的(de)(de)恒(heng)(heng)天(tian)(tian)立(li)信的(de)(de)第一(yi)大(da)(da)(da)股(gu)(gu)東(dong)。分析人士指出(chu),考慮到中國(guo)恒(heng)(heng)天(tian)(tian)是國(guo)資委認(ren)定的(de)(de)將汽車列入主業(ye)的(de)(de)四家大(da)(da)(da)型央企之一(yi),本次出(chu)手(shou)華菱星馬(ma)(ma)可能意(yi)在做大(da)(da)(da)做強汽車業(ye)務(wu)。
希(xi)努爾(er)近日發布公(gong)告稱,雪(xue)松控(kong)股(gu)(gu)(gu)旗(qi)下雪(xue)松文旅(lv)(lv)13日與新(xin)郎希(xi)努爾(er)集團等(deng)(deng)6位(wei)股(gu)(gu)(gu)東(dong)簽訂(ding)協議,收(shou)購6位(wei)股(gu)(gu)(gu)東(dong)持(chi)有的(de)合(he)計2億(yi)股(gu)(gu)(gu)股(gu)(gu)(gu)份,涉及金額合(he)計約42億(yi)元。此項收(shou)購將觸發要約收(shou)購,公(gong)司控(kong)股(gu)(gu)(gu)股(gu)(gu)(gu)東(dong)將變更為(wei)雪(xue)松文旅(lv)(lv)。希(xi)努爾(er)主營男(nan)裝生產,但受(shou)行業增速放(fang)緩影(ying)響(xiang),公(gong)司業績表現不佳,過去(qu)幾年曾嘗試通過并購互聯網(wang)資(zi)產、轉(zhuan)讓股(gu)(gu)(gu)權等(deng)(deng)方式轉(zhuan)型。作為(wei)受(shou)讓方的(de)實際(ji)控(kong)制人(ren),雪(xue)松控(kong)股(gu)(gu)(gu)并非A股(gu)(gu)(gu)“新(xin)人(ren)”,其去(qu)年斥資(zi)48億(yi)元控(kong)股(gu)(gu)(gu)上市公(gong)司齊(qi)翔騰達。
威華(hua)股(gu)份(fen)是一家重組“專業戶”,過(guo)(guo)去(qu)幾(ji)年(nian)(nian)多次籌(chou)劃重組。公(gong)(gong)司6月18日發布公(gong)(gong)告稱,現實際(ji)(ji)控(kong)(kong)制(zhi)人李建(jian)華(hua)將所持占公(gong)(gong)司總股(gu)本約10.49%的(de)股(gu)權(quan)對應(ying)的(de)表(biao)決權(quan)以及提名、提案權(quan)委(wei)托給盛(sheng)(sheng)(sheng)屯(tun)(tun)集(ji)(ji)團(tuan)(tuan)行(xing)使,后者去(qu)年(nian)(nian)已通過(guo)(guo)股(gu)權(quan)轉讓從(cong)李建(jian)華(hua)處獲得4000萬股(gu)公(gong)(gong)司股(gu)權(quan)。由(you)此(ci),盛(sheng)(sheng)(sheng)屯(tun)(tun)集(ji)(ji)團(tuan)(tuan)成為(wei)威華(hua)股(gu)份(fen)的(de)新控(kong)(kong)股(gu)股(gu)東,公(gong)(gong)司實際(ji)(ji)控(kong)(kong)制(zhi)人也將變更。作為(wei)受讓方,盛(sheng)(sheng)(sheng)屯(tun)(tun)集(ji)(ji)團(tuan)(tuan)也非A股(gu)“新人”,旗下已有上(shang)市公(gong)(gong)司盛(sheng)(sheng)(sheng)屯(tun)(tun)礦業。
中(zhong)證(zheng)(zheng)網(wang)(wang)聲明:凡本網(wang)(wang)注明“來(lai)源:中(zhong)國(guo)證(zheng)(zheng)券報(bao)·中(zhong)證(zheng)(zheng)網(wang)(wang)”的所(suo)有(you)作(zuo)品(pin),版權(quan)(quan)均(jun)屬于中(zhong)國(guo)證(zheng)(zheng)券報(bao)、中(zhong)證(zheng)(zheng)網(wang)(wang)。中(zhong)國(guo)證(zheng)(zheng)券報(bao)·中(zhong)證(zheng)(zheng)網(wang)(wang)與(yu)作(zuo)品(pin)作(zuo)者聯合聲明,任何組(zu)織未(wei)經中(zhong)國(guo)證(zheng)(zheng)券報(bao)、中(zhong)證(zheng)(zheng)網(wang)(wang)以及(ji)作(zuo)者書面授權(quan)(quan)不得(de)轉載、摘編或利(li)用其它方式使用上(shang)述(shu)作(zuo)品(pin)。凡本網(wang)(wang)注明來(lai)源非中(zhong)國(guo)證(zheng)(zheng)券報(bao)·中(zhong)證(zheng)(zheng)網(wang)(wang)的作(zuo)品(pin),均(jun)轉載自其它媒體,轉載目的在于更(geng)好服務讀者、傳遞信息(xi)之需(xu),并不代表(biao)本網(wang)(wang)贊同其觀(guan)點,本網(wang)(wang)亦不對其真實(shi)性負責,持(chi)異議者應與(yu)原出(chu)處單位主張權(quan)(quan)利(li)。
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Copyright 2001-2018 China Securities Journal. All Rights Reserved