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非公开发行即向特定投资者发行,也叫定向增发,实际上就是海外常见的私募,定向增发是指上市公司向符合条件的少数特定投资者非公开发行股份的行为,规定要求发行对象不得超过10人,发行价不得低于公告前20个交易市价的90%,发行股份12个月内(认购后变成控股股东或拥有实际控制权的36个月内)不得转让。定向增发是近两年资本市场比较火热的概念,但大众多定向增发还缺少深刻的认识,本文在结合2016年定向增发市场行情的基础上,进一步透彻分析定向增发的含义。
Non-public offering that is issued to specific investors, also known as private placement, in fact, private equity is common overseas, private placement is the listed company to meet the requirements of a small number of specific investors non-public offering of shares, requires the issuance of objects shall not exceed 10, the issue price shall not be less than 90% of the market price of the top 20 transactions in the announcement, and the shares issued within 12 months (after becoming the controlling shareholder or within 36 months of actual control) shall not be transferred. Private placement is the hot capital market in recent years the concept of the two, but the public is still lack of private placement of a deep understanding of this article in line with the 2016 private placement market based on the further thorough analysis of the meaning of private placement.