Rebirth: The Financial Giant

Thursday, November 8, Tiansheng Capital Headquarters.

Please come in!

Lu Ming answered when he heard the knock on the door in the office, and Han Qiulin walked in slowly, The procedures for transferring to Tiansheng 2 have been completed, and I'm just waiting for your signature.

After saying that, Han Qiulin handed a document to the table. Lu Ming took a quick look at it and signed and sealed it without much hesitation. By the way, he asked, Has the Tiansheng convertible bond been closed?

Han Qiulin took over the signed and sealed document and nodded: Yesterday, all investors completed the debt-to-equity swap, and Tiansheng Convertible Bonds were officially suspended. Tiansheng Transfer 2 is basically seamlessly connected to the market.

Lu Ming returned to Ningzhou, and the first thing he dealt with when he returned to the company headquarters was the issuance approval of Tian Sheng Zhuan 2. The issuance scale of the second convertible bond was still 30 billion yuan. He had already warned the market a few months ago. It has been disclosed, and many investors are waiting to subscribe.

Although Lu Ming did not say it clearly and did not actively admit it, he has now conveyed his wishes to the market through other voice channels. Now even the majority of retail investors know that Tiansheng Capital’s issuance of convertible bonds is not for lack of money, but for ordinary retail investors. A channel for indirect investment in Tiansheng Holdings.

Many people are powerless against the astronomical price of the underlying stock. Now, the further back the delay, the higher the stock price becomes, and the less likely it is to afford one lot. The highest price once soared to 41,000 yuan per share, and it cost 400 yuan to buy one lot. It is no exaggeration at all that 99.9% of investors in the A-share market cannot afford to buy more than 10,000 yuan.

In the past, only retail investors could not afford it, but now, as the stock price continues to rise, more and more public funds and private equity funds cannot even afford it.

A lot of more than 4 million yuan means that if a public fund wants to allocate Tiansheng Holdings, the total size of the fund must be at least 41 million yuan, because according to relevant regulations, the proportion of funds in a single stock must not be higher than that of the fund 10% of the total scale, there are a lot of domestic public funds, but there are a lot of funds with about 20 million.

In other words, public funds with a scale of less than 40 million cannot allocate Tiansheng Holdings.

Tiansheng Holdings now has 4,000 institutions allocating and proper institutional votes, and there are nearly 1,200 institutions that have allocated 100 shares, which is one lot. Although there is only one lot, these public funds have The scale is generally in the range of 100 million.

The scale of private equity funds is relatively loose, because there is no hard and fast rule that a single stock allocation must account for the total amount of the fund. In theory, the size of a private equity fund is more than 4 million yuan, and it can be allocated if it can afford the minimum standard of one lot. .

When many retail investors saw the more than 1,000 institutions behind Tiansheng Holdings that allocate 100 shares, they also made fun of them and felt that they were following the trend.

The current trend gives people the feeling that public funds are embarrassed to talk to their peers if they don’t allocate Tiansheng Holdings. Especially blue-chip funds must allocate Tiansheng Holdings.

…

At about 17:00 p.m., Tiansheng Capital issued an announcement, officially disclosing the relevant news about the issuance and listing of Tiansheng Zhuan 2. The time will be Friday, November 9, which is tomorrow, and the online subscription will be officially opened on Thursday, November 29. The official listing can be traded in the secondary market, and this time the entire 30 billion fund raised will be purchased online.

In this way, even large funds have to invest online like ordinary retail investors. However, large funds definitely have advantages over ordinary retail investors, but generally speaking, compared with the past, large funds have been designated to be obtained offline. The allocation method is much fairer.

After all, the purpose of Tiansheng Capital’s issuance of convertible bonds is to indirectly provide retail investors with an investment channel, but large funds can also participate in accordance with the rules.

The underwriter is still Cai Lian Securities, which is the securities firm that Lu Ming used when he first entered the Big A market as a retail investor. The two parties have been cooperating for a long time and are considered old friends. The cooperation is also very harmonious and they can talk about it without too many problems. Let old friends run it.

It is worth mentioning that the new subscription of Tianshengzhuan 2 has been adjusted. Because the positive stock price is too high, the traditional 1 lot of 10 lots of 1,000 yuan cannot be converted into debt for equity. You can only wait for the bond to mature. to the interest income from bonds.

After the adjustment, the minimum subscription unit of Tianshengzhuan 2 for a single account is 50 lots, or 500 lots, worth 50,000 yuan, and the upper limit of subscriptions for a single account is 1,000 lots, or 10,000 lots, and the price remains unchanged.

The conversion price of Tiansheng Zhuan 2 is 38,735 yuan.

Such an adjustment also means that as long as the investor who wins the lottery does not need to rush to buy in the secondary market as long as he firmly holds it and does not change hands, the amount he already holds can guarantee that he will have at least 100,000 shares during the open conversion period half a year later. It can convert 1 share of Tiansheng Holdings' underlying shares, and it is more than enough.

As for the extra part, it is up to the investors whether they choose to hold it until it rises, sell it and change hands, or buy some more from the secondary market to get the second share.

The news that Tianshengzhuan 2 was to be issued and listed attracted huge attention as soon as it was announced. Many financial media also cited and reported the news. Many investors also learned about this matter through the news pushed by their commonly used market software. Of course Some stock trading influencers also forwarded the news.

The news spread overnight and attracted much attention, with many investors looking forward to it.

The news has been released a few months ago, and I am finally looking forward to the second Tiansheng convertible bond being listed on the market. My sword is already very thirsty!

I missed the era when the stock price was 5,000 yuan and the stock price was 5,000 yuan. I also missed the era when the first convertible bond was the king. I can't miss the second convertible bond again.

In order to be able to play Xin Tian Sheng Zhuan 2, I specifically canceled a brokerage and registered a trading account with Cai Lian Securities!

I just cut some meat today. I don't know what to buy. It costs about 100,000 yuan. I can play the new stock king transfer 2.

By the way, is the winning rate of Stock King Zhuan 2 high?

It should be very big. After all, the probability of winning the new lottery for a 30 billion-yuan convertible bond is definitely much higher than that of other convertible bonds, and this time it is a full online new lottery.

Based on the new lottery draw of Tiansheng Convertible Bonds, the winning rate is very high. I won every time I played.

It's not necessarily possible for Tiansheng Zhuan 2. The subscription limit has been raised to 50,000 this time, and judging from the popularity, there may be a lot of people rushing to buy it.

It is true that the winning rate should be much lower than the first one. Assuming that each household wins the lottery for 50,000, 30 billion means 600,000 households. But in fact, some people may be possessed by the European Emperor and win 1 million, so the actual number of households It must be less than 600,000, there is too much forest but not enough meat!”

…

The last trading day of this week ushered in a wave of heated discussions.

On Friday, November 9, Big A opened as scheduled. At the same time, when investors opened their market software, a new window for today popped up. All major market software has a one-click new function, as long as investors do not close it. Today's new reminder will pop up as long as there are new stocks or new bonds listed on the day.

Investors basically click one button to buy new ones. Whether they win the lottery depends on their reputation. It is easy to do anyway, but as long as they win, they will basically make a sure profit without losing money. In the domestic A-share market, new stocks and new bonds are almost broken. It rarely happens, and new stocks are generally listed first before being doubled. This is why everyone is keen on launching new stocks.

As for convertible bonds, they usually choose to sell them on the first day of listing on the secondary market after winning the lottery. You can earn 300 yuan for 1,000 yuan, which is enough money for a late-night snack.

Early this morning, many investors saw Tianshengzhuan 2 on the new notification, so they clicked to subscribe without hesitation.

But today, the big A call auction jumped short and opened low. This low opening was not a flight of large funds. In fact, the main players were confused.

It turns out that many retail investors have created a scene that made the main funds laugh bitterly in order to play the new Tian Sheng Zhuan 2. It can be called magic. A group of retail investors did not understand the rules of the new game in detail, thinking that they were playing the new game. Liquidity needs to be freed up. This shows that the number of novices in the stock market is quite large, and new novices are constantly entering the market.

These retail investors sold their stocks one after another to free up their funds to play in the new Tianshengzhuan 2. Because a considerable number of novices gathered in the early market call auction to sell stocks in order to play in the new market, which triggered a domino chain. effect……

When other funds saw this handicap information, they shouted with questions on their faces: Damn it, so much money is running away, what happened? Don't know at all! But I don’t care, I’ll run away first.

After the market opened at 9:30, it continued to fall. Some funds held on during the collective bidding stage, but now they no longer dare to hold on. Anyone who is dissatisfied with Big A will eventually be taught to obey, so in this case, run away quickly. , maybe it’s wrong to run away, but it certainly can’t be too wrong!

This triggered the flight of funds following the trend, and then triggered a stampede effect, and the market collapsed today.

…