The Great Wall computer merge the Great Wall to choose cash or stock

The Great Wall and the Great Wall computer information choose cash or stock funds to thousands of thousands of hot columns on stock diagnosis the latest rating simulated trading contest: national investment adviser at the client King catch demon shares of Sina Financial App: Live on-line blogger to guide the original title: the Great Wall and the Great Wall computer information selection in cash or stock selection securities times the the Great Wall reporter Yu Shengliang computer merger the Great Wall information has entered the last minute, the Great Wall information only two trading days, investors face exchange or cash problems. Earlier, the the Great Wall and the the Great Wall computer information also released the restructuring announcement, the Great Wall computer will be convertible merger the Great Wall stock exchange information, the Great Wall and the Great Wall computer information were 13.04 yuan and 24.09 yuan shares shares, two listed companies at the same time in the restructuring plan set up the cash option, the price was 13.04 yuan and 24.09 Yuan stock shares. According to the convertible merger plan, the Great Wall is the Great Wall computer information merger. The Great Wall information will begin suspended since November 1, 2016, until the implementation of the convertible, turned into a the Great Wall computer stock listed and traded on the Shenzhen stock exchange. As of 27, the Great Wall computer closing price of $11.88 shares, the Great Wall information 20.48 yuan shares, cash options were $13.04 shares and $24.09 shares, thus calculated, respectively, 10% and 17.6% arbitrage opportunities. But the last two days of the two companies’ shares Yindie, the market seems to ignore this opportunity. But in fact, from the two conditions of the cash option, the market is not ignoring the opportunity. First of all, one of the conditions of the cash option is that investors should be in March 16, 2016, the number of shares held valid registration. In other words, in March 16th after buying the stock does not have the conditions to exercise the cash option. In addition to in March 16th before buying the stock, also requires investors at the general meeting of shareholders to vote against the convertible program become a shareholder objection, in order to obtain the cash option. These two conditions are indispensable, that is to say, the original shareholders voted against the if in March 16th to sell the stock, also has lost the right to choose cash qualification. Data show that the stock price and the cash option of the two companies in March 16th, compared to no arbitrage space, the the Great Wall computer fell nearly 7%, the closing price of 13.18 yuan shares, and not much difference between the cash option price, the Great Wall information day’s closing price of 23.19 yuan shares, income is only 3.88%. In addition, since March 16th, the the Great Wall computer exchange rate 248.39%, 444.64% turnover rate of the Great Wall information from the information, meet the conditions of the shareholders of the cash option is not much. Of course, it does not rule out from before March 16th investors hold the stock so far, for this part of investors, taking into account the price risk, or choose the cash option is more cost-effective, after all, the cash option provides at least a buffer pad security risk. In recent years, investors choose the cash option of the case is very rare, the main reason is the theory of Panzhihua vanadium and titanium相关的主题文章: