Debt shares refer to the establishment of financial asset management companies by the state, the acquisition of non-performing assets of banks, and the transformation of the creditor's rights and debts relationship between banks and enterprises into equity and property rights relations between financial asset management companies and enterprises. After the debt is converted into equity, the original principal and interest payment is converted into a dividend per share. Will the stock price rise after the debt-to-equity swap?
1, will rise
(1) The company has been in an upward trend until the debt-to-equity swap time, then the company's stock will rise to a certain extent after the debt-to-equity swap.
(2) From the nature of the debt stock, the debt stock has the dual nature of debt and equity, is a way for investors to avoid risks, usually the interest rate of the bond bill is relatively low, investors, buy it can get a double expected return, stimulate the demand for investment, promote the rise in price.
(3) Financing in this way is relatively easy, which brings convenience to the company's restructuring or development of the main business.
(4) From the perspective of investors, those who buy debt shares are generally institutional or strategic investors, and there are fewer retail investors, and there is no need to worry about throwing out debt shares to lower the stock price.
(5) Early redemption of debt shares will not use the company's funds, but only increase the number of shares and reduce the company's interest payment pressure.
2, will fall
(1) After the debt-to-equity swap, the company's net assets per share are not within a reasonable range, and the income statement shows that the net profit has shrunk significantly, and even a loss has occurred.
(2) After the debt-to-equity swap, there was a major bearish news in the industry.
(3) The scale of debt-to-equity swap is relatively large and beyond the normal range. The scale of debt-to-equity swaps accounts for more than 2/3 of the total scale.
When a certain stock is converted into debt, investors should analyze it according to the situation at that time, and do not be subjective and arbitrary.
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