This article was originally sent yesterday evening.
On May 14, Hongbai convertible bonds were listed, according to the latest stock price: 7.07 yuan, conversion price: 7.51 yuan, and the terms of the convertible bonds, the conversion value: 94.14 yuan, the value of pure debt: 87.89 yuan, the guaranteed price: 119.9 yuan, the annual income of the bond: 3.16%, AA-rated. The issuance size is 960 million. The shareholder allotment rate was 67.17%.
For other information, please refer to "Sulfur-containing Silane Leading 960 Million Hongbai Convertible Bond Subscription Early Known".
Latest results
Recent performance declines.
Valuation of the underlying stock
According to the latest performance and the latest return on equity of 3.47%, the static valuation P/E ratio of Hongbai New Materials is 63.69 times, the P/B ratio is 2.17 times, and the growth valuation PEG is 18.38.
Day 1 targeting
After deducting the 48% convertible bonds placed by major shareholders, the actual face value of circulation on the first day of listing was 500 million yuan.
It is predicted that the reasonable closing price of Hongbai convertible bonds on the first day of listing will be between 119.5~123.5 yuan, with a median of around 121.5 yuan and a premium rate of about 29%.
Hongbai convertible bonds are convertible bonds in Shanghai, with an opening price of 120 yuan and a temporary stop of 30 minutes of trading.
The above is a personal opinion and is for reference only. You are welcome to guess the closing price and leave a message to say what you think!
If you are lucky enough to win the lottery, at what price will you sell? You are also welcome to leave a message to talk about it!
Note: The market is unpredictable, and it is normal for the market to deviate from the forecast range. The forecast price is for reference only and cannot be used as an investment basis.
For the views and principles of this article, please refer to "Value Convertible Bond Investment Strategy" (authors: Ning Yuanjun, Tang Bin).
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The relevant securities mentioned in this article do not constitute any investment advice, only for personal investment records and to share investment ideas, if netizens buy and sell according to the securities mentioned in the article, please bear your own risk!
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