Industrial Securities recently launched a share placement plan, which is intended to raise more than 10 billion yuan. Prior to this, seven listed securities companies have completed refinancing through fixed increment, allotment of shares, convertible bonds and other methods this year. After the completion of the rights issue of industrial securities, the refinancing scale of eight listed securities companies has accumulated more than 80 billion yuan. Industrial securities issued an indicative announcement on the allotment of shares, stating that the allotment was conducted by online pricing issuance for all shareholders, and the price of the allotment was 5.20 yuan / share. The deadline for payment of the rights issue is August 24. Industrial Securities will publish the results of the rights issue and resume trading the next day. The existing total share capital of industrial securities is 6.697 billion shares. The total amount of funds raised by this share placement is expected to be no more than 14 billion yuan, and the placement will be carried out according to the proportion of 3 shares per 10 shares. Industrial Securities said that after deducting the issuance expenses, it is intended to increase the company's capital, supplement working capital, serve the development of the real economy and meet the residents' wealth management needs, and comprehensively improve the company's market competitiveness and risk resistance. In terms of shareholder subscription, Fujian Provincial Department of finance, the largest shareholder of industrial securities, has promised to fully subscribe the allotted shares determined according to the company's allotment plan in cash according to the number of shares held after the closing of the market on the registration date of this allotment. Since the beginning of this year, listed securities companies have frequently put forward refinancing plans, and there have been ten billion large orders. According to choice data, during the year, CITIC Securities, Dongfang securities and CAITONG securities completed the share placement financing, and the actual fund-raising amount was 22.396 billion yuan, 12.715 billion yuan and 7.172 billion yuan respectively; Guojin securities and Great Wall Securities both carried out fixed value-added financing, with actual fund-raising amounts of 5.817 billion yuan and 7.616 billion yuan respectively; China Galaxy and Zheshang securities completed the issuance of convertible bonds, with the issuance of 7.8 billion yuan and 7.0 billion yuan respectively. In addition, the refinancing scale of eight listed securities companies has exceeded 80 billion yuan. In addition, on the follow-up financing plan, the fixed increase plan of Zhongyuan securities and Guohai Securities shows that the two securities companies plan to raise funds of 7 billion yuan and 8.5 billion yuan respectively, which are currently in the stage of approval by the shareholders' meeting. Under the pressure of industry homogeneity competition, capital replenishment has become an effective means for securities companies to improve their competitiveness. Vigorously develop capital intermediary business and other heavy capital businesses, and become the main focus of securities companies. According to the Research Report of Huachuang securities, the rate of return of heavy capital business of industrial securities is leading, and the scale of equity assets in its proprietary business is relatively high. In the first quarter of this year, due to the high equity ratio, the company's self operated return rate was also significantly lower than that of the industry, which dragged down the performance of the first quarter. The scale of "two financing" has increased in general, but the market share has declined slightly. This is partly due to the lack of capital and the restriction of "two financing" for head customers. According to the announcement of industrial securities, no more than 7 billion yuan is planned to be used for the development of margin trading business, and the remaining funds are used for investment banking business, investment trading business, strengthening information system and compliance risk control. In March of this year, CITIC Securities raised a total of HK $6.040 billion in H-share rights issue, adding to the previous A-share rights issue, the total raised capital was RMB 27.33 billion. Previously, CITIC Securities estimated that of the total fund-raising amount of no more than 28 billion yuan,
Edit：Wei Li Bin Responsible editor：Yin Bing
Source：Economic Information Daily
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