Magical bidding.
On December 25, Compass announced that the company successfully bid for about 34.21% of the equity of Pioneer Fund on the judicial auction website, with a transaction price of 110 million yuan. Compass will become the single largest shareholder of Vanguard Fund.
"This transaction will help the company form a new business development pattern of 'one body and two wings' with the original financial information services as the main body and securities services and public fund services as the two wings, and lay a solid foundation for the company to continue to strengthen its comprehensive wealth management capabilities. "The compass indicates.
Brokerage China reporters noticed that in the process of this auction, the opponent of the compass suddenly increased the price by more than 30 million at a time, but with the compass increasing the price by 100,000 yuan on this basis, the opponent gave up directly, causing confusion in the market.
110 million won one-third of the equity of Pioneer Fund
On December 25, Compass announced that according to the public information of the Taobao judicial auction network platform of the Intermediate People's Court of Taizhou City, Jiangsu Province, the company bid for 34.2076% of the equity of the pioneer fund held by United Venture at a price of 110 million yuan. The company will pay the balance of the online auction transaction on time and go through the relevant procedures as required.
It is reported that the auction is scheduled to be held from 10 o'clock on December 24, 2023 to 10 o'clock on December 25, 2023 (except for delays), on the Taobao judicial auction network platform, the proportion of the pioneer fund held by the joint venture is 34.2076% of the public auction, the auction object is negotiated at 97.445 million yuan, the starting price is 68.2116 million yuan, the deposit is 12 million yuan, and the price increase is 100,000 yuan.
It is understood that the equity auctioned this time originally belonged to the United Venture Group, the major shareholder of the Pioneer Fund, and was announced to be auctioned in April 2020, and then withdrawn. In February 2022, Duoyuan, a veteran of brokerage fixed income, bid for the equity for 110 million yuan. However, according to the court's enforcement ruling, in February 2022, the court issued an auction transaction confirmation to Duoyuan in accordance with the law, and Duoyuan failed to submit to the court the written approval materials of the CSRC approving it to become a shareholder of the public fund management company. Therefore, the court re-auctioned the aforesaid equity in accordance with the law.
Founded in May 2016, Pioneer Fund is a public fund management company approved by the China Securities Regulatory Commission with a registered capital of 155 million yuan. Vanguard Fund currently has no actual controller. In terms of shareholding structure, in addition to the United Venture Group, Dalian Yalian Investment Management Co., Ltd. holds about 33.1% of the shares, and Beijing Pengkang Investment Co., Ltd. holds about 21.78% of the shares.
The mystery buyer suddenly raised the price by 30 million yuan
The Chinese reporter of the brokerage saw on the auction platform that a total of 2 buyers participated in the bidding in this auction, with a total of 5 rounds of bidding, and the bidding process was dramatic.
In the first round of bidding, Compass offered 68.2116 million yuan, which is the starting price. Seven hours later, another buyer increased his bid by 10 million yuan to 78.2116 million yuan. Nearly 3 hours later, the compass increased the price by another 600,000 yuan, and the price was 78.8116 million yuan.
Only about 2 minutes after that, another buyer suddenly directly increased the price by more than 30 million yuan, bidding 110.1116 million yuan. Subsequently, Compass bid again, but only increased the price by 100,000 yuan, bidding 110,211,600 yuan.
To the confusion of the market, another buyer simply did not follow, and the auction ended. Can you suddenly increase the price by 30 million yuan in 2 minutes, but finally lose to 100,000 yuan?
Build a small East Wealth?
Compass said that this transaction will help the company form a new business development pattern of "one body and two wings" with the original financial information services as the main body and securities services and public fund services as the two wings, laying a solid foundation for the company to continue to strengthen its comprehensive wealth management capabilities. Through the company's data, technology and customer resource advantages in the field of financial information services over the years, we will improve the market coverage of financial services, enhance customer stickiness, and expand and deepen the company's professional service capabilities and levels in the financial field.
The source of funds for this auction is all the company's own funds, which will not have an adverse impact on the company's finances and operations, and there is no harm to the interests of the company and all shareholders.
Compass said that after the company bids for the equity of Vanguard Fund, it intends to become the single largest shareholder of Pioneer Fund. According to the requirements of laws and regulations such as the Securities Investment Fund Law and the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Managers, the equity change still needs to be approved by the China Securities Regulatory Commission, and there is a certain degree of uncertainty.
In addition to bidding for the equity of public funds, Compass has also obtained a license from a brokerage. In July last year, Compass completed the acquisition of Netcom Securities through bankruptcy reorganization investment, obtained 100% equity of Netcom Securities, and became the second Internet financial information service provider with a securities license in the industry. In January this year, Netcom Securities officially changed its name to McGao Securities.
It is reported that since Compass acquired McGao Securities one year ago, its brokerage business and proprietary business have achieved a good and orderly development. Other securities businesses will be built and resumed in the form of self-inspection or acceptance of business development according to the situation of McGao Securities itself and the guidance of the higher-level competent authorities, and the relevant work is progressing smoothly.
In the future, Compass will seek independent tripartite fund sales qualifications in a timely manner according to business development. McGao Securities has the qualification of fund distribution, but the business form is different from that of independent third-party fund sales.
According to public information, Compass was established in 2001 and focuses on securities analysis and securities information services. In November 2019, it was successfully listed on the Growth Enterprise Market of the Shenzhen Stock Exchange. At present, the company has become a comprehensive large-scale financial information service joint-stock enterprise.
The multi-faceted layout of the compass, is it aimed at creating another "Oriental Wealth"?
Editor-in-charge: Tactical Heng
Proofreading: Wang Chaoquan