"The extra 20 billion yuan can be added to the existing constituent stocks to chase the rise." Lu Ming arranged it and said: "You can do block trades at a premium and get them in as soon as possible. The later the time, the higher the cost. Now these stocks
They are all constantly reaching new highs.”
"Understood!" Li Mingyang nodded. After Lu Ming explained a few more words, Lao Li left the office and headed to the trading room.
Today is the last trading day of the week and the call auction time is about to begin. Lu Ming did not go to the trading room. The current market price is blue-chip big-ass tickets, which is a brainless group. The market price is drinking, taking drugs and driving. The "drunk driving" market price is
It's pretty mindless and basically has no technical content.
Lu Ming naturally cannot go against the general trend. The current market is "big for beauty, core assets". If retail investors don't come, it will skyrocket, and if they don't come, it will continue to rise. Now as long as you buy first- and second-tier blue-chip stocks, it's basically
I've made money all over.
Tiansheng Value Growth Hybrid Fund will distribute a cash dividend of RMB 200 billion this time, but one of the constituent stocks it holds so far has not been moved. At the same time, it will increase its position today to buy more than RMB 20 billion.
Yesterday, 7 million people bought 100 billion yuan, and the actual capital of the fund now has reached more than 370 billion yuan, because in fact, one share has not been moved.
After adding more than 20 billion yuan today, the cash flow on the fund's books will still be more than 70 billion yuan, and this money will not be used again. At the same time, the LPs have collected the remaining more than 120 billion yuan, for a total of 200 billion yuan.
Used for cash dividends.
However, in addition to the lightning remittance of more than 10 billion from Chaoyun Trust, the LP institutions' acquisition funds will have to be received gradually in the next month from other LPs.
However, fund dividends will be credited to the accounts of three million members on Monday next week. With two days off this weekend, the Tiansheng Value Growth Hybrid Fund Management Department will have to work overtime to pay for it.
The money that the LPs have not received will be made up with Tiansheng Capital’s existing liquidity. At this time, it reflects the importance of having hundreds of billions of liquidity on hand at all times.
In this way, when the cash dividend of 200 billion is remitted into the accounts of three million people next week, the capital of Tiansheng Value Growth Hybrid Fund will fall back to 170 billion.
At the same time, the corresponding holdings of constituent stocks will also decrease, but they will not be sold in the secondary market. This is an owner change within Tiansheng Capital.
At the same time, Tiansheng Tiansheng Value Growth Hybrid Fund also normalized its net value.
…
In the president's office, Lu Ming is currently drafting a document for the issuance of convertible bonds.
Tiansheng Capital wants to raise debt.
But it is not because of lack of money. Tiansheng Capital now has nothing but money.
The reason why Lu Ming decided to issue convertible bonds was because he had just read an article that was widely circulated among the industry and investors.
The content points directly at the unattainable stock price of Tiansheng Holdings, which now stands at more than 10,000 yuan, which means that buying a single share of Tiansheng Holdings would cost more than 1 million yuan.
And that article said a lot, and finally wanted Tiansheng Holdings to split its shares to a stock price that ordinary retail investors can afford. From a moral high point, it called on Tiansheng Capital to allow the majority of small and medium-sized investors to do so.
Enjoying the dividends of the company's development can also give you a sense of gain.
This article is very popular among retail investors. From another perspective, it also represents the urgent expectations of most small and medium-sized investors.
That being the case.
Lu Ming had no choice but to uncover the scars of the market.
Issuing corresponding convertible bonds to respond to the market's expectations is to tell the market a cruel reality, and the result of the stock split of Tiansheng Holdings will definitely be a piece of cake.
The gambling nature of Chinese people is so crazy. This can be seen from the fact that some gamblers in ancient times sold their wives and daughters to continue gambling after losing everything.
If the stock is split to 10 yuan per share or 100 yuan per share, retail investors will eventually flock in and wildly overdraw the performance of the next five or even ten years. In the end, there will be a sharp rise and fall, and they will be cut off.
Issuing corresponding convertible bonds, not much, just issue about 30 billion and throw them into the secondary market.
Go ahead and speculate, convertible bonds are still traded on a T+0 basis!
If the vast majority of retail investors in the market are rational, then convertible bonds should follow the underlying stocks, and the premium rate will not be too high. The 30 billion market is definitely a very large market target among convertible bonds. Most of the convertible bonds
Convertible bonds are worth several hundred million.
Today, the latest convertible bond was launched, and it is also the largest convertible bond subject so far. That is the national average convertible bond issued by Cathay Pacific Junan, with an issuance scale of 7 billion.
Lu Ming plans to raise 30 billion yuan in debt for Tiansheng Capital. Raising such a large amount of hot money will require a lot of effort, so he has to rely on retail investors to support him.
If most retail investors in the market are irrational, then the market price fluctuations of Tiansheng convertible bonds will definitely deviate significantly from the underlying stocks, and there will be wild speculation.
Issuing convertible bonds for debt financing is actually a good thing for Tiansheng Capital, which is not short of money. Borrowing money based on its ability can create greater profits compared with the interest. Debt-for-equity swaps are also
It doesn't matter, if the debt is converted into shares, the company will use the money to buy back the shares and cancel the shares, and the number of shares will still remain unchanged at 80 million shares.
When will Tiansheng Convertible Bonds be able to discuss the stock split with the underlying stocks?
Of the seven conditions required for a company to issue convertible bonds, Tiansheng Capital currently only fails to meet one, which is "the average profit rate on net assets in the past three years is above 10%", and the other six are all met.
The main thing is that the company will go public through a backdoor listing, but this condition will be met in half a year. Now you can start preparing and applying to the China Securities Regulatory Commission for issuance of convertible bond documents. The application will be accepted and approved within the next three months. From the issuance date,
The additional issuance was completed within six months, which was exactly the time required.
Preparations are starting now, and convertible bonds will be issued and listed around February next year.
Don’t rush this matter, just leave it to the subordinates of the company to deal with it once it’s decided. Tiansheng Capital wants to raise debt and issue convertible bonds. There are a lot of people buying them. Capital hates the poor and loves the rich. The richer people go.
Borrowing money means you don't have to worry about not being able to borrow money.
…
Around 18:00 in the afternoon.
Somewhere in China, an ordinary man was eating spicy hotpot at a roadside stall. While eating, he did not forget to take out his mobile phone and click on the Zhifu Bao fund platform to take a look. Today he subscribed for the Tiansheng Value Growth Hybrid Fund.
, I bought the full amount of 50,000 yuan in one go. If I bought it before 15:00 yesterday, I would have to confirm the share today and calculate the profit next Monday.
It was okay for him not to look at it. He looked at it and was a little confused. The order showed that the invalid order had been withdrawn.
"What the hell?"
The man underestimated, and when he saw that he didn't buy it, an unknown fire suddenly surged up, and he cursed in his heart.
I have no choice. If I didn't buy it today, I can only click on the subscription again, which will delay another trading day.
As a result, the man was dumbfounded. When he switched to subscription, he found that the gray virtual button was displayed, and the text changed from "Subscription" to "Suspended Subscription, Open for Redemption".
What? Can’t buy it?
Now everyone is so stupid that they can’t even buy it for 800 yuan.
It was so angry, and there were already ten thousand grasses and ten thousand horses galloping past in my heart, and the spicy hotpot in the bowl suddenly no longer smelled good.
In a fit of annoyance, the man clicked into Enchantress' comment section and took a look.
"Tiansheng Enchantress made an announcement. Yesterday, 7 million basic households subscribed for more than 100 billion yuan in one day. The fund had to suspend subscriptions and open redemptions."
"Fuck, you crazy people."
"Seven million Christians can fuck 100 billion in one day. It's so crazy!"
"I haven't gotten in the car yet...[JPG]"
"Damn it, I'm so scared of you guys... [laughing and crying]"
"Hahaha, Tiansheng Enchantress has become a hot search again. Yesterday, she received a dividend of 200 billion and was a hot search. Today, she bought a 100 billion yuan and was a hot search. It's so crazy!"
"The Christians of this generation are so cruel. My fellow fund companies are so jealous that they shed tears, haha."
"I'm really going to starve to death, or waterlogging to death."
"The news in the past two days has been very disturbing. Suddenly I feel that I am the poorest in the world, with hundreds of billions at every turn. I don't know, I thought it was Zimbabwean currency."
"You can also see from here why there are so many retail investors in Big A, why the leeks can never be harvested, and why they are harvested one crop after another."
"reality."
"Brothers, Tiansheng Enchantress closed the door to thank guests. It seems that she has forgotten the Tiansheng Global Vanguard Hybrid QDII Fund next door. I have already studied. Brother Yi probably didn't react. Global Vanguard Hybrid has always maintained the subscription status. Don't blame me.
I didn’t remind you, maybe I’ll stop subscribing for this chicken too!”
The man who was eating Malatang's eyes lit up when he saw the Global Pioneer Mix mentioned in the comment section.
Yes, why did I forget this chicken?
The man quickly entered Tiansheng Global Pioneer Mix, looked at the net worth income curve, and couldn't help but secretly exclaimed: "Holy shit, this year's income is actually +73%? This year's income actually outperformed Enchantress?"
When he saw that the name of the fund manager was also Lu Ming, the man hurriedly went to work. Although the share will not be confirmed until 15:00 next Monday, he can subscribe now.