Coastal energy restructuring failed

Yesterday evening, the Binhai Energy Notice stated that the company decided to terminate the non-public issuance of stocks due to major uncertainties in the proposed non-public issuance of stocks and resume trading today.

The tragedy of Binhai Energy seems to have been expected in the market as early as expected, but it is undoubtedly a blow to those investors who look forward to six months. Things have been traced back to March this year. After three and a half months of trading suspension, Binhai Energy resumed trading with a piece of paper and plans to add RMB 82 million to 6 specific objects including Inner Mongolia Dongda Mongolia King Group at a price of RMB 11.30 per share. The stock is expected to raise no more than 927 million yuan and not less than 827 million yuan. We hope to use this fund to enter the cloud computing strategy emerging industries through mergers and acquisitions.

On the day when the restructuring plan was announced, Binhai Energy's share price hit a record high of RMB 17.87 per share in one fell swoop. Since then, the stock price has been repeatedly frustrated. Until August of this year, the market has begun to question the feasibility of its increase. However, the house leak was affected by the rain overnight, and the buyer's infliction caused a tragedy.

In the afternoon of September 19, Binhai Energy applied for an emergency suspension of trading, and disclosed an important announcement that evening, saying that the largest subscriber, Inner Mongolia Dongda Mongolia Wang Group, had decided to withdraw from the company’s proposed non-use due to its lower confidence in the investment value of emerging industries in the capital market. Public offerings of stock projects; while the other subscriber, Beijing Century Internet Engineering Services Co., Ltd., hopes to replace the existing model of non-public issuance of stocks by issuing assets to buy assets. As a result, Coastal Energy has become a certain number of facts.

Until last night's announcement shows that, although coastal energy and related parties have been active consultations, still can not avoid the fate of non-public offering of termination, and promised in the shares resume trading from the date of three months no longer planning to issue shares to acquire , major asset restructuring and other major issues, the company's stock will resume trading today from the opening.

Cases of fixed increase and restructuring failure are common in the capital market, each time accompanied by the plunge in the secondary market share price. For the encounter Coastal Energy, the industry pointed out that the coastal energy restructuring would have liked to borrow to get through the difficulty, and now want to come to nothing, to avoid converting short-term stock price once again frustrated, we recommend investors to be treated with caution.

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