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经济低迷期内并购重组的显性成本即并购对象的作价和机会成本相对较低,这意味着并购重组类定增将持续进行2015年,上市公司定增动作频频,定增项目的绝对数量和募资规模较2014年明显提升,即便2015年A股市场经历了过山车似的行情。申银万国证券研究所首席研究员林瑾对《上海国资》表示:“虽然股市低迷直接影响了企业定增的进程,甚至部分企业因此缩小定增的募集总额或调低定增价格,但并不意味着企业将放缓定增的速度,上市公司定增将面临更多机会,而机构参与定增的热情也并未受到过多影响。”
The apparent cost of mergers and acquisitions during the economic downturn, that is, the relatively low price and opportunity cost of M & A, means that M & A and restructuring will continue to increase. In 2015, the fixed number of listed companies increased frequently and the absolute number of projects The scale of fund-raising significantly improved compared with 2014, even if the A-share market in 2015 experienced a roller coaster-like market. Lin Jin, chief researcher of the Research Institute of Shenyin Wanguo Securities, said on “Shanghai State-owned Assets”: “Although the stock market downturn has a direct impact on the pace of business growth and even some companies have reduced their fixed-price subscriptions or lowered fixed-price increases, Does not mean that enterprises will slow down at a steady pace, and listed companies will face even more opportunities and their enthusiasm for participation in the establishment will not be excessively affected. ”