Crystal Optoelectronics (002273) today disclosed a report on the results of the increase, raising funds of 330 million yuan to four investors including major shareholders. However, looking closely at the inquiry process, the company has issued an additional subscription letter twice, which reflects the difficulty of directional private placement under market conditions.
According to the announcement, Crystal Optoelectronics issued a total of 9.2 million shares at this time, the issue price of 35.95 yuan / share, equivalent to the issue price, the total amount of funds raised 330 million yuan. According to the plan, the company's original issuance of shares is capped at 20 million shares, and the amount of funds raised is 640 million yuan.
The company has 4 subscribers for this private placement, of which Star Group subscribed 2 million shares; Tianjin Liuhe Biyun Equity Investment Fund Partnership subscribed 3.8 million shares, with a capital contribution of 136.6 million yuan; E Fund and ICBC Credit Suisse Fund were respectively allocated 2 million shares and 1.4 million shares. However, due to the recent decline in the broader market, the latest share price of Crystal Optoelectronics fell to 33.33 yuan, the new shareholder floated about 7%.
However, even if the amount of this fundraising “shrinks†by half, the inquiry process is full of hardships. According to the disclosure, on November 29, the sponsors and issuers issued invitations to subscribe to 87 investors. However, as of the morning of December 1, the lead underwriters only received 2 subscription quotations, which were from Yifangda and Tianjin Liuhe Biyun. Therefore, the sponsor institution and the issuer issued a letter of “additional subscription intention†to the allocated investors at a confirmed issue price of 35.95 yuan/share, and finally received only one “additional purchase order†from Liuhe Biyun.
In desperation, Crystal Optoelectronics and Industrial Securities continued to consult other investors for the subscription intention at the price of 35.95 yuan / share, and finally received an "additional purchase order" from ICBC Credit Suisse. This twist has contributed to the current list of subscriptions.
From the list of shareholders before the issuance of the company as of October 31, 2011, the top ten shareholders of Crystal Optoelectronics and the three quarterly reports have not changed much. ICBC Credit Suisse's stable growth fund holds 5.2 million shares, holding about 300,000 shares; The Great Wall Resources Monopoly Fund and China Everbright Prudential Small and Medium-sized Fund also have small Masukura.
The list of shareholders after the completion of this increase shows that ICBC Credit Suisse's Steady Growth Fund continues to increase its holdings of 490,000 shares. However, the 1.2 million shares held by ICBC Credit Suisse this time are not reflected in the steady growth fund holdings, and should be under the ICBC Credit Suisse The other funds hold it; and the 2 million shares that E Fund has subscribed for this time are actually held by the National Social Security Fund 109.
According to the disclosure, the funds raised by Crystal Optoelectronics will be used for the precision photoelectric film components technical transformation project, the annual production of 6 million sapphire LED substrate projects, and the R&D center construction project. According to the premise, after the production of precision optoelectronic thin-film components project, it is estimated that the normal annual sales income will be 259 million yuan and the after-tax profit will be 64.21 million yuan. After the sapphire LED substrate project is put into production, it is estimated that the normal annual sales income will be 1,104 million yuan and the after-tax profit will reach 10,867. Ten thousand yuan.
According to the announcement, Crystal Optoelectronics issued a total of 9.2 million shares at this time, the issue price of 35.95 yuan / share, equivalent to the issue price, the total amount of funds raised 330 million yuan. According to the plan, the company's original issuance of shares is capped at 20 million shares, and the amount of funds raised is 640 million yuan.
The company has 4 subscribers for this private placement, of which Star Group subscribed 2 million shares; Tianjin Liuhe Biyun Equity Investment Fund Partnership subscribed 3.8 million shares, with a capital contribution of 136.6 million yuan; E Fund and ICBC Credit Suisse Fund were respectively allocated 2 million shares and 1.4 million shares. However, due to the recent decline in the broader market, the latest share price of Crystal Optoelectronics fell to 33.33 yuan, the new shareholder floated about 7%.
However, even if the amount of this fundraising “shrinks†by half, the inquiry process is full of hardships. According to the disclosure, on November 29, the sponsors and issuers issued invitations to subscribe to 87 investors. However, as of the morning of December 1, the lead underwriters only received 2 subscription quotations, which were from Yifangda and Tianjin Liuhe Biyun. Therefore, the sponsor institution and the issuer issued a letter of “additional subscription intention†to the allocated investors at a confirmed issue price of 35.95 yuan/share, and finally received only one “additional purchase order†from Liuhe Biyun.
In desperation, Crystal Optoelectronics and Industrial Securities continued to consult other investors for the subscription intention at the price of 35.95 yuan / share, and finally received an "additional purchase order" from ICBC Credit Suisse. This twist has contributed to the current list of subscriptions.
From the list of shareholders before the issuance of the company as of October 31, 2011, the top ten shareholders of Crystal Optoelectronics and the three quarterly reports have not changed much. ICBC Credit Suisse's stable growth fund holds 5.2 million shares, holding about 300,000 shares; The Great Wall Resources Monopoly Fund and China Everbright Prudential Small and Medium-sized Fund also have small Masukura.
The list of shareholders after the completion of this increase shows that ICBC Credit Suisse's Steady Growth Fund continues to increase its holdings of 490,000 shares. However, the 1.2 million shares held by ICBC Credit Suisse this time are not reflected in the steady growth fund holdings, and should be under the ICBC Credit Suisse The other funds hold it; and the 2 million shares that E Fund has subscribed for this time are actually held by the National Social Security Fund 109.
According to the disclosure, the funds raised by Crystal Optoelectronics will be used for the precision photoelectric film components technical transformation project, the annual production of 6 million sapphire LED substrate projects, and the R&D center construction project. According to the premise, after the production of precision optoelectronic thin-film components project, it is estimated that the normal annual sales income will be 259 million yuan and the after-tax profit will be 64.21 million yuan. After the sapphire LED substrate project is put into production, it is estimated that the normal annual sales income will be 1,104 million yuan and the after-tax profit will reach 10,867. Ten thousand yuan.
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