随着我国股票发行额度制的退出及股票发行核准制的正式实施,一直被忽视的IPO发行人质量评价问题得到了证券市场前所未有的重视。
With the implementation of authorization system of issuance of shares, the evaluation of the stock issuer's quality of IPO, which has been neglected for a long time, has aroused great attention.
将股票供应量压低的话,意味着只需要少量需求就能成功发行,发行额度较小,还能减轻所有股东对股权摊薄的忧虑,使他们不至于对发行价太敏感。
Less supply means less demand is required to pull off a successful offering. A smaller offering also will make all shareholders less sensitive to dilution and therefore pricing.
据摩根大通(JPMorgan)透露,今年欧元区的债券净发行额度将会达到4.250亿欧元(合5.800亿美元;信贷违约掉期的净头寸(刨去平仓合约)只有640亿欧元。
JPMorgan says net euro-zone bond issuance this year will be 425 billion ($580 billion); net CDS positions (removing offsetting contracts) are just 64 billion.
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