金融专家何德旭博士日前指出,债转股后的股权如何出售和变现才是债转股成败的关键。债转股后,数千亿元及至上万亿元的股权究竟卖给谁?何博士分析说,可以肯定主要不是卖给国有企业,因为它们经营状况不佳,不可能有强大的投资实力。这样,可能的购买者就主要是民营企业、外资、二级市场的投资者和经营良好、有实力的上市公司。现实情况是,这几个方面的购买能力都难以让人乐观。因此,在中国目前 Dr. He Dexu, a financial expert, pointed out a few days ago that the key to the success or failure of debt-to-equity swap is how to sell and realize equity after the conversion of debt into equity. Debt to equity, the hundreds of billions of yuan and the trillion yuan of equity sold to whom? Dr Ho analyzed that it can be sure not to sell the state-owned enterprises, because they are in poor condition, it is impossible to have a strong investment strength. In this way, the possible buyers are mainly private-owned enterprises, foreign investors, investors in the secondary market and well-run and capable listed companies. The reality is that these aspects of the purchasing power are hard to be optimistic. So in China right now