129770904150937500_133A few days ago, the national people's Congress, the securities supervision of listed companies revealed during the two sessions, ouyangzehua, Deputy Director of the Department, City firm IPO audit standards are still in negotiation
tera gold, can be introduced during the year cannot be determined. This position was lifted again by city commercial banks listed at the beginning of hope, again not sure. On February 1, the Securities and Futures Commission has for the first time in "confidential"In the list of enterprises to the public, 14 local commercial banks (including city commercial banks and Bank) in the column, have raised market expectations for it will speed up the process of listing. "Our application has submitted more than a year, to the SFC has run many times, but no use, this is not our problem for a Bank, (the Commission) is not to place silverOpen the hole. "A Director of Delta city commercial bank said. This year increased to unlisted equity as a pledge of city commercial banks can be seen obviously trust more this expectation. But expected no representative can quickly get, many investment bankers say, city business listing can be lifted, the SFC and the regulator will need to coordinate between the two regulators, negotiateProblem, not the tough background bank runs public relations should be able to solve. Trust securities made by the shareholders and circumstance on February 1 issue regulatory Department of the initial public offering of stock to declare basic information form, 14 in the list of local commercial banks get together to chat, which has 10 city firm, 4 Bank; on the audit process, there are 8 entered the trialAnd 6 are included in the implementation of the feedback. "From the perspective of auditing process, trial implementation and feedback are still at the first stage. The "Bohai securities investment banking Vice President Wang Puzai introducing the General audit process, the Ministry said. According to the existing city commercial banks "applications have been submitted more than a year" argument, after submitting these materials, belonging to a State Audit process has littleBoost. But no city commercial banks shareholders of "greatly exaggerated". In the context of tight credit, many unlisted company shares held by the shareholder company, take city commercial banks listing expected, Union trust, trust scheme for the right to issue equity returns the collection of funds. Incomplete statistics, MINMETALS navigation trust, zijin trust, trust, trust in Changan, the industrial trusts, Sichuan trustIron, thaw in the new era of trust, trust, trust, trust companies issuing city business-related equity income right assembled funds trust scheme. With new era trust issued the most ferocious, issued in February than in January twice. The "new letterFrequently
tera power leveling, almost day one
tera power leveling, involving a number of city commercial banks, which include Dalian Bank equity. Dalian Bank is one of the 14 banks in the list of securities and, in the first instance state. Other right to equity income trust of the trust was set up in March, Chang-trust issue "Po particular investment the right to equity returns in the new Lake assembled funds trust scheme", linked to equity isShengjing Bank equity of 100 million shares. Shengjing Bank listing applications in the first instance state. "If you read the contract carefully for all products, will find these Bank equity prices are too high. PB according to the secondary market valuation, possibly $ 3/unit, but is now set to 5 Yuan per unit. "Beijing advisers on Shi Duanyi, Deputy General Manager, said. SFC Advisory BoardTaking into account if the city commercial banks so long it is difficult to list of city commercial bank shareholders can take "Dongfeng" will be increasingly weak. Since 2007 after first 3 city business listing, new city commercial banks has not landed in a-share markets. So, city business listing, why so hard? "The regulator is to give city business listing break, good for city commercial banks a blood transfusion. ButSecurities and Futures Commission has a lot of concerns, the Commission that city commercial banks from setting up to now are not very perfect, issues more, another factor is the pressure on the market, the market has been up to, bank financing has big appetite. Now with particular emphasis for the investors of the SFC is responsible for, so may have a negative impact on the city commercial banks will have concerns. "A Beijing brokerage investment banker said.Renmin University of China Institute of finance and securities, Ying Zhanyu believes that business from a position belonging to the Bank in the city, there are still a lot of problems itself. Transformation of local commercial banks and city commercial banks are coming from, the transformation time is relatively short, works closely with local government contacts. "As listed to meet 3 conditions such as profit, on paper, we won't see a problem now, butActually many divestiture or there is a problem, there are certain risks. "Ying Zhanyu said. Ying Zhanyu also believes that currently listed Bank's performance is good, but shares the last couple of years has been running low, business structure, sustainability of the business model there is great instability, especially for topics of financial reform was instituted, bank transfer structureChange is inevitable. Like the present marketization of interest rates favored, interest rate once implemented, current Bank profit model is bound to cause great impact. From the psychological ability of investors, listed banks keep on refinancing plan frequently to stimulate the sensitive nerves of investors, whether release of city commercial banks, also taking into account the capacity of the market. "Banking supervisionSector is the banking regulator, SFC hopes the CBRC will develop standards for qualification of city commercial banks, at the time of Audit Committee are based on reference. "The foregoing Beijing brokerage investment banker said. During the two sessions, ouyangzehua also said, on the basic business model of city commercial banks and qualification of the basic judgement, involving different regulators, at present, in accordance with the procedures of the SFC is and relevant ministriesFurther consultations, after the agreed standards will lead to the audit guidelines. "However, it's not completely hopeless. If after the reform, city commercial banks listed are also promising. "Previously mentioned brokerage investment banker in Beijing said. According to the source, since he as Chairman of the SFC, on approval by way of reform very seriously, in two sessions after theMay be introduced reforms for a long time. Money to make ends meet after a massive expansion in an area of the two years 2009 and 2010, many city firms money started to make ends meet. According to industry reports, 2009 relax the China Banking Regulatory Commission and simplifying the city commercial bank branch established threshold, city business expansion accelerates. In 2010, city commercial banks established cross-region 103 offsite branch, asset quality and business risk due to regulatory concerns, and in April 2011 to temporarily halt expansion. Costs of expansion, is that capital consumption. To supplement capital 2011, listed under no circumstances, increased equity financing, issuance of subordinated debt to be eased capital "thirst" expedient, and increase equity financing because approval, looking for capital increaseShare objects difficult, subordinated debt issued supplementary form of subsidiary capital has become more popular. At the same time, large numbers of issued as subordinated debt, also caused significant increases in funding costs. End of May last year, Chengdu Bank $ 2.4 billion of 10-year subordinated debt, coupon rate as high as 7%, means Chengdu Bank year coupon up to $ 168 million, to release 2010-year net profits as a reference, year around servicing will account for a net profit of 10%, high cost of debt. According to Bank of Dalian post-doctoral research group of research data shows that in 2011, a total of 16 city commercial banks to join the army of subordinated debt financing, of which only December 8, 2010 Bank to issue subordinated debt has only 6 all year round.
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