华晨高管抛股隐情 逆mbo发展路径蒙上阴影（The brilliance of executives shares cast than the inverse MBO development path overshadowed）.docVIP

华晨高管抛股隐情 逆mbo发展路径蒙上阴影（The brilliance of executives shares cast than the inverse MBO development path overshadowed） Brilliance is a very special case in the tide of property right reform in state-owned enterprises by MBO. This was the MBO pioneer MBO management plan was halted in the angrong case, a strange combination of circumstances retained state holding company status, but the regulation problem shares cast behind the storm to inverse MBO development path overshadowed the brilliance Executives throwing stock crisis Although a few months, the domestic auto industry is still a miserable and gloomy atmosphere is not difficult to find, brilliance auto is one of the fastest decline in performance of the company, brilliance Chinese (1114.HK) 2004 can be used to describe the stock price plummeted, from the beginning of the year when the highest 4.85 Hong Kong dollars, all the way down to the August 16th closing price of only 1.58 yuan, more than half a year time fell nearly 68%. worse, last month, China once again become the focus of attention, the four executives leave , Brilliance will fall no doubt , pass too fast. And a month ago executives cast shares is the fuse of the whole affair, in July 8, 2004, 9, the Hongkong stock exchange disclosure, China brilliance CEO Su Qiang, to sell more than 700 shares each, two times as much as the sale in the hands of a total of 14 million 458 thousand shares of brilliance shares, cash of HK $33 million 780 thousand. This has been the second sell-off in less than a year, and it is not difficult to find out from the public data of HKEx. At this point, several executives in brilliance have almost thrown away all the shares in hand. In October 28, 2003, brilliance motors signed a contract with Citigroup Global to issue $5, 170 million year convertible bonds, with net proceeds of $164 million. Synchronous, Citigroup Global to HK $2.65 per share to buy Wu Xiaoan, Hong Xing, Su Qiang, He Tao, Yang Maozeng and other 5 directors, 113 mil