According to the latest news, Gaotest shares will issue 483 million yuan of convertible bonds next week. The bond is abbreviated as Gaotest Convertible Bonds. The subscription code is 718556. So, when will the high test bond be listed? Let’s take a brief look at it.
The issuance method of high-tech bonds is priority placement and online pricing, and the debt and the main body are rated A+. The issuance scale is 483 million yuan, and the initial conversion price is 84.81 yuan. With reference to the closing price of the underlying stock of 84.8 yuan on July 13, the par value of the convertible bond is 99.99 yuan. Refer to the yield to maturity of ChinaBond corporate bonds of the same period and rating (July 13 date) is 8.79%, the redemption price at maturity is 110 yuan, and the calculated pure debt value is 69.38 yuan. On the whole, the bond issuance scale is low, liquidity is poor, the rating is weak, and the bond bottom protection is weak.
As of the first quarter of 2022, the largest shareholder is Zhang Xu, holding 25.63% of the shares, the second largest shareholder is Weifang Shanmei, holding 7.78%, and the top ten shareholders hold 51.84%. Zhang Xu directly holds 25.63% of the company’s shares without indirectly holding the company’s shares, and is the company’s controlling shareholder and actual controller. Assuming that the proportion of the old shareholders’ allotment is 34%~52%, the scale of the high-tech convertible bonds left to the market is 232 million yuan to 319 million yuan. So, when will the high test bond be listed? It is understood that the high-test bond issuance should be listed in mid-August.