Shanghai State Owned Platform Integration Speed Up

Last week, the first domestic fund to invest in Shanghai's state-owned enterprises was the CSI Shanghai trading open index Securities Investment Fund (hereinafter referred to as "Shanghai state owned ETF"), which was raised at a scale of up to 15 billion 200 million yuan.

It has attracted wide attention.

Although the scale of the raising is huge, careful observation of the design scheme of ETF in Shanghai state owned enterprises is not difficult to see. Its launch is well thought out, and the innovative pilot scheme is quite obvious.

Unlike previous ETF products, the Shanghai state owned enterprise ETF introduced the state owned assets platform to participate in the purchase of the relevant shares of some of the relevant listed companies' shares, thereby achieving the further flow of state-owned equity.

In July 29th, the Shanghai port group and the delivery group also announced that their respective state-owned shareholders, Shanghai city investment group and Jiu Shi Group, would buy 300 million shares and 34 million 494 thousand and 900 shares of the listed company shares in Shanghai to share the ETF share of the state-owned enterprises.

A day later, the tunnel shares also announced that the two shareholder Guosheng group will buy about 157 million shares held by Shanghai state owned enterprise ETF.

In addition, Leng Sheng shares have previously disclosed that Shanghai's state-owned ETF will be subscribed to 300 million yuan of its own funds.

According to incomplete statistics from journalists, the total market capitalization (ETF) of the Shanghai state owned enterprises in the case of repurchase (subscription) disclosed above is as high as 4 billion yuan.

It is worth noting that the above participation in the ETF share of the state-owned enterprises in Shanghai is not the largest shareholder of the relevant listed companies, and the shareholding ratio of the listed companies is less than 10%.

"Shanghai state-owned ETF is a new thing, with the participation of secondary shareholders of listed companies, and the intention to test the water is obvious."

Analysts familiar with the reform of state assets say that Shanghai's state-owned assets may also be exploring this experience.

Taking innovation capital as a breakthrough to speed up the orderly flow of state-owned capital has always been

One of the directions in the reform of state-owned assets.

This time, the establishment of ETF of state-owned enterprises in Shanghai will provide space for value added and pfer of state assets.

According to introducing, ETF of Shanghai state owned enterprise is the ETF product developed by huitianfu fund based on the Shanghai Shanghai index of the CSI, which covers all the targets of reform of all quality state-owned enterprises.

At the end of the first quarter, the CSI Shanghai's state-owned enterprises index increased by 72.80% since the beginning of 2013, and the relative yield of the 100 and the Shanghai and Shenzhen 300 of the Shanghai listed companies reached 55.42% and 45.25% respectively. At present, the average PE of the index shares is 29 times, which is 34 times lower than that of the Shanghai and Shenzhen 300 index, reflecting the characteristics of low valuation and good growth.

Taking the state capital mobile platform as a prelude to integration and promoting by means of Marketization

In the process of speeding up the reform of state owned enterprises, Shanghai's state-owned assets have been closely linked to the market and take the lead in trying to stimulate the greater vitality of state-owned enterprises through a new mode.