GCL integrated Taobao auction stakes bids high bid or again face adjustment

Polaris solar PV net news: China’s largest non-public GCL group bring strong clean energy giant under the restructuring, because of debts the troubled Super day sun is reborn, to show new faces in the capital markets “GCL integration”, once more than 10 times as big black horse of China’s capital market. However, the creditors to take its predecessor company’s founder’s 54.704 million equity Ni Kailu into real money, is not an easy task.

Interface information from the auction site Taobao was informed by the relevant parties, from early August to today as of press time, the stake both online auctions have not been successful, GCL integration frequently cold 54.704 million shares changed hands.

Scenery in Shanghai chaori solar is a once well-known PV is not listed. Meanwhile, chaori solar China bond market of the first default leads, breaking the Chinese bond market “default 0” myth in the capital market, famous.

The two equity asset disposal unit is the Zhengzhou intermediate people’s Court of Henan province. Ni Kailu shares limited held 54.704 million shares, have been frozen by the relevant bodies. The starting price was 415 million Yuan, rating agencies gave the assessment price was 460 million Yuan. Taobao auction houses commissioned by the Shanghai Municipal higher people’s Court held a joint auction. Stream causes interface contact journalists had not been responsible for the auction business in Zhengzhou intermediate court judge feng’s comment.

Before the start of the auction, in early August of onlookers almost 8000 people, on September 6, the Racquet onlookers dwindled to more than 5,400 people.

Reporters who lose the trust of the person subjected to execution information query Court found that Ni Na Ni Kailu daughter as the person subjected to execution of at least seven cases, the Court for the Shanghai first intermediate people’s Court, involving over 150 million Yuan RMB. Lose the trust of the person subjected to execution case is labeled “other performing ability while refusing to comply with the entry into force of legal instruments”.

Announcements issued by the Court, GCL integrates the above 54.704 million shares sold at auction price valuation date is November 2, 2015, at the time the share price discount calculation. But, from its two level market of performance see, November 2, 2015, Association Xin integrated of shares in this year so far trading during of relative high, in 11 Yuan/unit upper and lower shocks, in this time Qian 20 a day, Association Xin integrated two level market shares from minimum of 7 Yuan/unit more way crazy rose, highest points had close 14 Yuan/unit, during of average price over 10 Yuan. Ten days after, GCL integration was once rushed to the 16.

However, in the subsequent over more than 10 months, shares in GCL integration started way down, closed as of the afternoon of September 7, 2016, GCL integrated price fixed at 6.34 Yuan/share. According to the 54.704 million unit, the starting price of 415 million Yuan, assessment price was 460 million projection evaluation price of around 9.8 yuan per share, starting price is about 7.6 Yuan. Clearly far more than today’s closing price, and bids is not accidental.

Henan province High Court judges who didn’t want to be named told interface for journalists, the Executive Branch has two streams a conclusion on the causes, they think mostly because auction prices are relatively high, higher than the market price. “The Court will cut prices as soon as possible, conduct a third auction”, the judge said.

Auction bids twice within a month, but the GCL Ni Kailu integrated 54.704 million unit is still the focus. According to its annual open show, as of June 30, 2016, GCL integrated top-ten shareholders of “threshold” context of 24 million shares, if the bidder to win the stake, then he’ll be pushed into the Concord integrated lists of top-ten shareholders. GCL integrated report showed that Ni Kailu currently to the location of the third-largest shareholder, a total of 31527.88 shares, a 6.25% restricted shares.

Original title: GCL integrated Taobao auction stakes bids high bid or again face adjustment

Posted in Solar Charger.