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Shandong bailout fund helps eight companies out of dilemma

2019/7/15 14:30:49   source:sdchina.com

At the end of last year, Shandong Guohui Investment Co. Ltd and Zhongtai Securities Incorporated Company jointly launched Shandong capital market bailout fund with a total scale of 10 billion yuan, so as to relieve the stock pledge risks of listed companies and expand financing channels of enterprises.

Now how is the bailout fund working? What projects does the fund support? Recently, the reporter got some latest information from Shandong Guohui.

So far, the bailout fund has invested eight listed companies. To be specific, the fund gives financial aid to companies in an emergency but not those perennially in need of money. Moreover, the bailout is mainly aimed at the promising private enterprises in line with the trend of economic structural optimization and upgrading.

“We have actually taken control of two A-share listed companies and are in the process of the share acquisition of a GEM company,” said an insider of Shandong Guihui. Taking advantages of the low financing costs, they have seized on the downturn in the A-share market to boost mergers and acquisitions of listed companies. In addition to these three companies in high-end equipment manufacturing, fine chemicals industry and biological medicine, Shandong Guohui will further carry out mergers and acquisitions in upstream and downstream industries while focus on the “top-ten” industries to share stocks in another three to five companies.

It’s reported that the bailout fund has a total size of 10 billion yuan, among which Zhongtai Security and Shandong Guohui each contribute 1 billion yuan to set up a mother fund of 2 billion yuan in total. By setting up a number of sub-funds with fund from banks, insurance companies, state-owned companies and governments, the bailout fund aims to eliminate the risk of listed companies in closing transaction of stock right pledge and give necessary financial assistance to eligible enterprises and dominant shareholders in the bailout list.

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Sponsor:Information Office of Shandong Provincial People’s Government