Lin Gao Qiming

Chapter 2391 Financing (26)

Cheng Dong thought that something was wrong. In this way, what would the Canton Stock Exchange do? Aren't all the transactions being sucked away by the black market?Said: "In this case, it is not conducive to the development of the Canton Stock Exchange."

At the venue, everyone in Caijinkou whispered.Ren Youzi quickly came out to explain:

"Everyone can rest assured that our intention is not to let the black market trade. In the beginning, we will set up teahouses around the exchange to provide traders with a place to talk and collect information. Let them gather around the Canton Exchange from the beginning. The third Public offerings will become registered shares, dividend distribution will be subject to registration, and transaction transfers must be carried out on the exchange. In addition, we also recommend that the initial stamp duty and transfer fees should be reduced as much as possible to cultivate them in the transaction habits of trade."

Meng Xian expressed his puzzlement: "Then why the first phase and the second phase should be anonymous. Isn't it good to regulate the transfer to a formal institution from the beginning?"

Chuhe almost didn't laugh. He was still a formal institution, and he almost said the word Delong Bank. It seems that Meng Xian not only wants to pay the issuance fee, but also has an idea about the transaction fee. He really thinks of himself as a brokerage.

Of course, there will definitely be a brokerage in the future, but this brokerage cannot be used by Delong. Delong is at most one of the shareholders.

Before he could open his mouth, Ren Youzi immediately came out and said vaguely, "We can study this again. I think the volume of the first two issues is not large, so it won't have much impact no matter what."

"You don't have to worry about stamp duty," Ai Zhixin said leisurely, "at this stage we don't expect the securities market to support finances through taxes and fees. Our opinion is: stamp duty involving securities transactions Yes, but the levy is currently suspended, and there is a buffer period of several years. The purpose is to provide good services, release water and raise fish, and set the terms first. When the stock market needs to be adjusted in the future, the levy can be resumed. Also, I think the Canton Stock Exchange We should do a good job in the transaction intermediary and registration office functions first, and when someone talks about the transaction, we will be a witness and charge a fee, and if we do a thousand three or a thousand two dollars, isn’t it just a handling fee.”

Cheng Dong agreed: "I also agree with Aiju's idea. But since there is no brokerage at this stage, we don't need to charge transaction fees. If we conduct business in other places in the future, we can collect them when we entrust transactions through Delong. In the beginning, the exchange was only responsible for the transaction intermediary. For registration and transfer, first charge a thousand-two intermediary fee to see the situation. As for the registration fee of one yuan each time, the account opening fee is calculated separately. The matter of the market maker is simply put on the market by your Nanyang company. Go out and do it, we will cooperate with you to issue a guide price, and wait until the third issuance to establish a complete system of entrusted quotations, matching transactions, etc. What do you think?"

When Chuhe heard it, he thought Cheng Dong's plan was very good.One is to allow preparation time for the Canton Stock Exchange to establish a trading system, so as not to delay the first and second phases of financing of Nanyang Company.The second is to separate the Canton Stock Exchange from the most risky link in the entire financing plan, that is, the part that manipulates the stock price. Nanyang Company is also responsible for what happens.

No matter how you do it, in short, if something goes wrong, it cannot be directly blamed on the officials of the Senate.

Looking around, the attitude of the elders is already clear.So he said: "This idea is good. Our Nanyang company supports this plan. I suggest that we immediately start the stock issuance work for the elders, and at the same time let out the wind, and also prepare public opinion for the next phase of the first issue of bonds for the aborigines. Get ready. Meng Yuan, Ding Yuan, what do you think?"

Meng Xian immediately said: "No problem, we Delong have nothing to do with serving the Senate, it's the issue of underwriting fees..."

The surroundings smiled and said: "Ah... It's easy to talk about."

Chuhe is in a good mood these days. Nanyang Company's financing case has been officially passed, and the proposal to establish the Guangzhou Stock Exchange has been approved.Judging from the current situation, he and Ren Youzi are likely to be in charge of this part of the work.Because Cheng Dong had talked to him in private the day before, asking for his views and suggestions on the project.It can be said that he and Lao Ren are almost inseparable in getting this project.

However, according to Cheng Dong's plan, although the stock exchange has a special person in charge, it must also take care of some other business work of the financial port-it can even be said that for a long time to come, this part-time job will only be the main business.In other words, Lao Ren had to continue to do his auditing—he was promoted to the director of the Guangzhou branch of the "Cheka" soon after.Although his work has not been officially announced, Cheng Dong has already told him very clearly that his relationship has been transferred from the education department to the finance department through the organization department.

"...What is your part-time job, we still need to discuss. Of course, you can also come up with your own ideas. At present, both the Central Reserve Bank and Delong are in urgent need of a professional veteran cadre like you to take up the post..."

"This, I will obey the leader's arrangement." Chuhe immediately stated, "The specific part-time job can be arranged according to my expertise."

"That's good." Cheng Dong didn't say what the specific job arrangement is, "In this case, you wait for the notice from the organization office. As for the specific work arrangement of your exchange, you can coordinate with Lao Ren yourself. The location of the exchange , Liu Xiang’s opinion is to arrange it on Dashijie’s side. After all, our customers are mainly Guangzhou citizens.”

Now that the matter has been basically finalized, Chuhe decided that without further delay, he should talk to Ren Youzi first, and the two sides will explain to each other about the future work of the exchange, after all, they will be working partners in the future.To establish a good cooperative relationship.

He immediately asked Xiao Pu to find Elder Ren, but he did not expect that Elder Ren came here by himself.

"Chuhe!" Ren Youzi also had a look of "being in good spirits on happy occasions". His face was always full of gloom, but his face, which made all the senate and naturalized cadres shudder at first sight, actually put on a smile.

"Old Ren! I am going to send someone to find you..."

"Don't bother me, I have something to look for you too." Ren Youzi happily sat down at the small conference table, and took out a document from his briefcase.

"Look, this is the basic charter and structure of the Guangzhou Stock Exchange that I made. It's relatively simple. Take a look and give me your opinion."

Chu He opened it and saw a standard stereotype at the beginning:

"In order to solve the contradiction between capital supply and demand and liquidity, a securities market will naturally emerge. The stock exchange will solve the problem of connection between financing and investment by means of securities issuance and trading, so as to resolve the contradiction between supply and demand of funds and the problem of capital structure adjustment. Guangzhou The stock exchange, as a profit-making corporate tangible centralized trading market, will integrate registration and settlement, issuance approval, organization of transactions, self-discipline management and other functions based on the actual situation of the year, and is committed to providing capital market services for various enterprises..."

Didn't you just take out the old document and replace the words?Chuhe complained secretly.

He continued to look down, only to see that five major functions were listed below: standardized governance, stock transfer, value discovery, direct financing, and credit enhancement.The specific words and sentences are basically old routines, there is nothing new, Chuhe just skips them.

More important are the following exchange settings:

"...the exchange has 17 internal departments, namely: Board of Directors Office, Supervisory Board Office, Disciplinary Inspection Office, General Office, Trading Department, Settlement Department, Supervision Department, Legal Department, Issuance Department, Registration Department (preparation), Finance Department, Internal audit department, human resources department, equity business department, debt business department, innovation business department (preparation) and administrative center..."

"I don't know if Cheng Dong talked to him and told him that there are only two of us 'professional' staff members in this newly-launched stock exchange." Chu He thought, this configuration is too luxurious.

Tucao belongs to Tucao, but the setting itself is very methodical, which can be called a straight line.It's just that there is no possibility of realization at the moment, and it can only be regarded as a "long-term plan."

Next is the conditions for listing on the stock exchange, a total of six conditions, no different from the old time and space.Then there is the listing process, which Chuhe is more concerned about, because this is the work that will be done immediately.

"...The host brokerage prepares materials and submits them to the Issuance Examination Committee for review - after the review is passed, the approval is received - the letter of intent for the prospectus is disclosed - the public inquiry - the announcement of the issuance is disclosed - the price is issued - the funds are raised, the account is processed, the shares are registered, and the application for listing is reviewed by the listing committee -Disclosure of the listing announcement-listing. All investors who successfully subscribe for stocks will obtain physical stock certificates on the day of listing (refer to banknote printing and anti-counterfeiting standards)..."

"Old Ren, your plan is good and professional enough!" Chu He fully affirmed it first, and then said "But..."

"Ai ai ai, you don't need to say it, I understand what you mean. This plan is fake, right?"

"No, no, you don't need to label yourself." Chu He thought to himself that this guy is really hard to deal with.

"I know what you mean," Ren Youzi said, "Isn't it because we don't have the conditions now. Don't worry, I didn't say that this plan will be implemented soon-this is obviously impossible."

"That's good, that's good." Chu He nodded again and again,
Ren Youzi continued: "The exchange solves the problem of pricing, and the operation of raising funds is actually carried out off-site. The earliest exchanges were either taverns and cafes, or under the big trees. It was a place to discuss business-in fact, we There are similar transactions in ancient times, such as buying and selling bulk goods and livestock, mostly in teahouses. Stocks, bonds, etc., are high-level, but there is not much difference in essence. So, we don’t need to take old The space-time exchange is the same as before, and the Senate does not need such a complicated exchange.

Chuhe thought to himself that your plan is completely different from what you said!After a long time, you are going to make a "long-term plan"?
(End of this chapter)