Now that the SGX registration system pilot has been successfully implemented, it has become an established fact. As for how the main board will do things in the future, Fang Hong will just wait and see with a high-spirited mentality.
As time goes by, the new year is getting closer and closer.
The first batch of 36 companies registered for listing has been determined, and this is just the beginning. The exchange has not yet opened, but all work matters have not been left behind, and more companies applying for registration and listing are also being accepted.
After the first batch of registered and listed companies are listed on the SGX, the second and third batches will follow.
Expanding the stock pool of SGX as soon as possible is not only to provide financing support to more companies that are operating steadily but lack funds, but also to prevent a few listed stocks from becoming scarce products in the market and being speculated.
At the beginning of the exchange's opening, there were only dozens of listed targets, and investors from all walks of life in the capital market are looking forward to the SGX.
In this situation, it is easy for the first batch of listed companies to be speculated by funds, because there is a lot of funds, but there are too few tradable varieties in the market, and individual stocks can easily generate huge bubbles in the short term.
Fortunately, SGX’s top-level design system suppresses irrational market speculation at multiple levels, such as the T 3 system for institutions, the T 1 system for retail investors, and the significantly higher entry threshold for retail investors’ funds, etc.
In addition, the 22 listed companies in the cluster that were transferred from the main boards of the two cities are also very critical.
Even though there are only 22 listed companies, these targets are all very big. They are all large-cap stocks with a market capitalization of hundreds of billions, and even super large-cap stocks with a trillion-level volume, such as Xingyu Technology, WeChat, and Matrix.
Quantum (quantitative capital) has reached a trillion-dollar market value.
Among them, Xingyu Technology has reached the 2 trillion level and is currently the largest market capitalization stock in the Big A market. The market capitalization of one of its companies is equivalent to the total market capitalization of hundreds of stocks on the GEM.
A larger market means that it can accommodate more funds in and out, and the total market capitalization of these 22 listed companies in the galaxy has reached a huge 12.7 trillion based on the closing price at the time of suspension.
In other words, on the first day of trading on the SGX, the total market value of the 58 listed companies listed on the exchange was close to 13 trillion, accounting for about 20% of the total market value of A-shares of 65 trillion.
The listing targets of the Galaxy that have been transferred from the main board are the absolute fixing stars and ballast stones of the SGX, so there is no need to worry too much about the lack of space for the funds coming to the SGX.
However, accelerating the issuance speed will not change. The stock pool of SGX must be quickly taken into shape. At the same time, it cannot be filled with data or expand for the sake of expansion.
Having both needs and wants must be a huge pressure for the review team. Fang Hong naturally knows this, so he will devote more time and energy to keep an eye on it in the first year of the opening of the SGX.
After all, everything is difficult at the beginning.
…
Meditation Villa.
Tian Jiayi looked at Fang Hong and said: "The second batch of registered and listed new stock plans has been set for 27 companies, and 11 have been approved so far. The companies registered and listed in this batch are mainly in the semiconductor industry, and semiconductor equipment manufacturers are the main ones.
"
Hearing this, Fang Hong nodded and said immediately: "The third batch will be mainly based on photovoltaic new energy, and then a batch of companies based on the Xingyu Technology supply chain will be listed, and then we will be supplied by Jiuzhou Blue Arrow
A number of chain-based companies have been listed..."
Big companies such as Jiuzhou Blue Arrow and Xingyu Technology, which are involved in the high-end manufacturing field, have an extremely large industrial chain upstream and downstream. Among them are many outstanding companies with development potential, which meet the listing requirements of the SGX.
Naturally, it is necessary to recruit these reliable companies, especially those listed in the first year of the SGX, to acquire high-quality assets as much as possible, and Fang Hong will personally check them.
In fact, there are many high-quality assets. In the future, Jiutianxing Network can form a huge and new industrial chain, including the Orbital Reef Space Station, and even more promising is the daily project of space photovoltaic power station.
, can give birth to the development of a large number of excellent high-tech enterprises.
Behind a series of space engineering projects such as the Sky Mirror, a space gravitational wave detection project that is already in orbit, as well as the Saturn detection and Mars detection of the Nine-Sky Project, require a large number of relevant high-tech companies to provide technical support. Many technology companies
It was through these big projects that we got started.
Some of these outstanding companies will definitely be admitted to the SGX when the time comes.
After a while, Fang Hong thought about it and added: "Oh, by the way, let's get DJI too, and put it on the list of the second batch of listed companies."
At this time, Tian Jiayi couldn't help but said: "According to this issuance rate, the number of companies listed on the SGX may exceed 500 throughout 2016. On average, there will be at least 2 new stocks listed on the SGX every trading day.
Therefore, without counting the new stock issuances on the main boards of the two cities, a rough calculation shows that the number of new stock issuances in 2016 may be close to 800, which is to create an unprecedented issuance record in A-shares."
Fang Hong was very indifferent when he heard this: "The number of new shares issued and listed has never been the root of the problem. As long as the companies you get listed are good companies, the more companies you get listed, the stronger they are, and the more they can attract larger funds to invest. This
The market is also more dynamic."
Speaking of this, Fang Hong paused for a moment and turned to look at the beautiful assistant. Suddenly he said with a smile but not a smile: "To put it bluntly, there is nothing wrong with the market, only that you don't want to do it well. The reason why it can't be done well is
, because once it is really done well, the door to some people's interests will be closed."
If Fang Hong dares to list 500 new stocks on the SGX within one year, he naturally has enough confidence to support it.
First of all, Star Capital owns many unlisted high-quality companies, and most of them are technology companies with high growth potential. The listing of truly good companies is beneficial to the market itself, and investors are eager to have more, the better.
Secondly, Stars Capital’s strong “money-making ability” can provide the ultimate guarantee for financing on the SGX. Even in extreme situations where other investors do not come, the liquidity provided by Stars Capital can allow companies to raise funds here.
It can ensure that SGX will not lose its financing ability.
After all, there are only a handful of companies like Jingdong that can easily raise huge amounts of 18.5 billion through IPO, and it is impossible to catch a large number of them. Large state-owned companies that want to go public will definitely choose to go public on the main board, and the SGX is originally geared towards technology companies.
The vast majority of companies that go public for financing, as long as they are not rushing to go public to make money, really need to raise funds from the market to support the development of the company, their IPO funds generally raise 3 to 5 billion, which is a lot of money. Those companies
The boss will not raise money haphazardly, because when he takes the money, he has to sell the equity at the same time.
If he firmly believes that his company can become stronger and bigger in the future, and the more money he raises now, the more he will lose in the future, then he must raise as much money as he needs and try to raise as little money as possible.
Only those who are rushing to go public to make money from the beginning will not care about the dilution of equity. As long as the market dares to follow the money, they can even package the company and sell it to you, and then they will make money and run away to make profits.
Among the first batch of 36 companies registered and listed on the SGX, with the exception of Jingdong, the IPOs of other companies basically raised about 300 million to 500 million, and some were less than 300 million. Calculated based on this number, even if
If 500 companies go public next year, about 150 billion will be taken from the market. Star Capital itself can provide SGX with 200 billion level financing a year, which is definitely more than enough.
There is no one in the entire market except Qunxing Capital, which is only an extreme situation in theory. In reality, judging from the current expectations of various investors for SGX, there is no need for Qunxing Capital to pay a sum.
With money, other investors can provide financing capabilities far exceeding 200 billion.
