Market Brief

The articles are produced in Chinese only.

Author

吳子青先生 (Andrew Ng)
經理

畢業於香港理工大學金融服務系,2008年完成財經分析師(CFA)考試,喜歡綜合基本因素與技術分析研究股票,並對衍生工具及IPO市場有獨到見解,現主力負責公司的高端客戶,提供度身訂造的投資服務
Phone:
22776655

IPO殼股

Monday, February 1, 2016 Views4275
  最近大市可說是乏善可陳, 散戶短線的炒作減少大半, 如果還是要在市場進進出出, 其中最有看頭的可算是半新股, 尤其是市值比較細小的, 甚至炒高一倍以上, 這次想談一談當中的故事.

  如果大家有留意, 會知道現在主板上市的空殼公司大約值6-7億. 如果細小的IPO以這個角度來看,  大股東付出高昂的上市費用, 就算只集資幾千萬也是除笨有精, 因為上市地位已值回票價.

  當選擇認購這類新股時, 市值絕對是重要的參考指標, 通常如果按招股價計算市值4億以下的特別容易炒上, 但當市值炒到7-8億時就要多加小心, 因為已慢慢脫離殼股價值. 另一方面, 如果公司的業務簡單, 負債少才算是好的殼股, 也較易炒上.

  雖說這些公司上市的主要目的是上市地位, 但上市初期也很容易出現一番炒作, 首先一點大家要注意的是, 由於這是殼股, 大股東必需保持大多數持股(例如75%)才有價值, 換句話說, 市場上流通的街貨, 主力莊家能夠操作的貨量非常少, 這種出貨可能在一星期甚至一兩天內完成, 貨值也可能只有幾千萬. 所以炒這種股必須速戰速決, 當時間過長或是成交金額過大, 莊家可能已完成出貨.
 
  當殼股上市經過一輪炒作後, 成交會回歸平靜, 市值也可能不停下跌, 直到市值跌到超值水平(可能是4億以下)主力才會重新收集和炒上, 這中間可能相隔一段很長的時間.

  最後還有一點十分重要, 如果這些股票將來出現供股合股等情況, 就絕對不能再以殼股的計算去炒作, 必要時果斷離場.
 
註: 本人吳子青, 為證監會持牌人士, 截至本評論文章發表日止, 本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益
This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
Top of Page
Contact Us
Please contact your account executive or call us now.
Research Department
Tel : (852) 2277 6846
Fax : (852) 2277 6565
Email : businessenquiry@phillip.com.hk

Enquiry & Support
Branches
The Complaint Procedures
About Us
Phillip Securities Group
Join Us
Phillip Network
Phillip Post
Phillip Channel
Latest Promotion
E-Check
Login
Investor Notes
Free Subscribe
Contact Us