垄断国企海外上市反思录

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中石化A 股上市了。这家大型国企在2001年8月8日以15.4亿股的股数和4.22元人民币的价格在A 股市场上登陆,筹资60多亿元,而整个中石化的A 股上市股数将达到55亿股,如果以现在的发行价计算,那么它在A 股市场的总筹资额将达到200多亿元人民币。一时间,认购中石化的股票在一级市场上达到了一个高潮,就连刚刚出世、还没来得及在二级市场上露面的社保基金,也成了它的一个投资者。然而中石化的辉煌只维持了几天。8月8日上市以后仅仅数天,它的股价已经 Sinopec A shares listed. On August 8, 2001, this large state-owned enterprise landed on the A-share market with 1.84 billion shares and a price of 4.22 yuan, raising over 6 billion yuan while the entire A-share market of the entire petrochemical company would reach 5.5 billion Unit, if calculated at the current issue price, then its total funding in the A-share market will reach 200 billion yuan. For a time, the subscription of Sinopec’s shares reached a climax in the primary market. Even the social security fund that has just appeared in the world and has not had time to appear in the secondary market has become one of its investors. However, the brilliant Sinopec only maintained for a few days. Only a few days after the listing on August 8, its share price has been
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