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中文(ZH) 多家上市公司调整锁价定增融资方案,基准日均改为发行期首日

Chinese Firms Shift Private Placement Pricing to Issuance Day

Multiple listed companies are adjusting their fixed-price private placement financing plans, changing the pricing benchmark date from the board resolution announcement date to the first day of the issuance period. This shift moves from a locked-price issuance to a pricing model closer to the secondary market stock price during the issuance period. Market participants indicate this change aims to reduce arbitrage opportunities and align with market-oriented regulatory guidance for the refinancing market. AI

RANK_REASON The cluster reports a significant shift in financing practices by multiple listed companies, indicating a notable trend in the capital markets. [lever_c_demoted from significant: ic=1 ai=0.0]

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COVERAGE [1]

  1. 36氪 (36Kr) TIER_1 中文(ZH) ·

    Multiple listed companies adjust their fixed-price private placement financing plans, with the benchmark date changed to the first day of the issuance period.

    据记者统计,近日已有包括*ST八钢、金煤科技、吉峰科技、国际实业、望变电气等多家上市公司发布调整定增融资方案的公告,均将定增发行价的定价基准日由“董事会决议公告日”改为“发行期首日”,从原先的锁价发行切换为更贴近发行期二级市场股价的定价模式。对此变化,市场人士表示,从董事会预案披露到正式的定增发行,往往间隔数月甚至更长时间,期间二级市场股价不排除会出现较大波动,以董事会预案披露为基准日的定价容易与市价出现较大价差,可能产生套利空间。采用“发行期首日”定价模式,可有效压缩套利可能,契合再融资市场化的监管导向。(财联社)