The first A-share listed company to use special refinancing to increase its shareholding was born.
According to the Securities Times, on the evening of October 7, Bairen Medical announced that in response to the policy guidance of the central bank, Jin Lei, the controlling shareholder and actual controller of the company, intends to use special loan funds to increase his holdings of the company's A shares, and the number of additional shares is between 100,000 and 2.13 million shares.
The so-called special re-lending, also known as a structural monetary policy tool specifically for the stock market, was announced at a press conference held by the Information Office of the State Council on September 24, with a total of 300 billion yuan in the first phase, which was specially used for the repurchase or increase of shares of listed companies.
So, which listed companies will use this refinancing? Clearly, it is unlikely that the average listed company will use this policy tool. In particular, listed companies that are not optimistic about the prospects of their enterprises and have strong expectations do not have the confidence to use refinancing.
You must know that there are two main reasons for listed companies to implement buybacks or increase holdings: one is market value management, and the other is corporate investment. Market value management is a job that listed companies must do well, and listed companies that attach importance to market value management generally have better operating conditions. Conversely, companies that do not pay attention to market value management are not much better off. Therefore, listed companies that can use buybacks or shareholding increases to manage market value are naturally companies with relatively good operating conditions.
From an investment point of view, some listed companies will also invest through buybacks or increases in holdings out of confidence in the prospects of the enterprise, so as to obtain certain returns.
Because of this, most of the enterprises that use special refinancing should be full of confidence in the prospects of the enterprise, or pay attention to market value management. The key lies in the fact that enterprises must not have "evil thoughts", cannot have greed, and cannot use relending for speculation and profit. If so, the regulatory authorities should investigate and deal with it.
If the 300 billion special reloans can be used by listed companies, it can not only effectively increase the liquidity of the market, but also enhance investors' confidence in listed companies. Therefore, listed companies with confidence will actively use it. Conversely, it is necessary to strengthen the supervision of the use of relending to ensure that this policy tool works well.