Actual control blood transfusion?

October 11, 2011, Xiangyang bearing disclosure of non-public offering plan, intends to issue not more than 12,000 shares, issue price of 5.72 yuan per share, the total funds to be raised no more than 686 million yuan.
Among them, the tricyclic group committed to cash issued in accordance with other objects at the same subscription price, the subscription is not less than the total number of non-public offering of shares of 70%.
But the program has not been implemented yet, until six months after the share price from the previous month Xiangyang bearing down has occurred, the two have been lower than the market price set by the low prices. Last resort, Xiangyang bearing set by the program had to revise.
Adjusted non-public offering of shares pricing benchmark for the company meeting of the fifth Board announcement date (13 July 2012), 20 trading days before the pricing benchmark average trading price per share ninety of 3.80 yuan / share, however, Xiangyang bearing non-public offering of shares of the adjusted issue price of not less than 4.27 yuan per share.
Company in accordance with the number of twenty trading days before the pricing benchmark stock trading price of ninety percent price difference Xiangyang bearing on the issue price 4.27 yuan, 0.47 yuan higher than 3.80 yuan.
"The key is to be increased smoothly, pre-meeting, it may be because the initial plans for the proposed issue price 5.72 yuan, some small shareholders to sell the stock, now quilt so they oppose." Xiangyang bearing securities affairs department official representation.
It is worth mentioning that, although the increase compared to the initial plan set, Xiangyang Stainless steel slewing bearing the times on the issue price is reduced, however, the company was not willing to reduce the total funds raised, the final choice of approach is to greatly increase the number issued.
Public information, Xiangyang bearing the adjusted set by the plan, issue number increased to 16,000 million shares, corresponding to 4.27 yuan on the issue price, still intends to raise funds up to 683 million yuan.
With the increase in the number issued, the actual control of Xiangyang bearing tricyclic group will be 4.27 yuan per share, the purchase of the non-public offering of 80% of the total number of shares, ie 128 million shares, which means that tricyclic group had to pull out 547 million yuan real money.
"To raise funds unchanged, so the number of shares corresponding increase in the provincial government five-year plan for the company is still pretty high, large shareholders are also optimistic about the company for the future, and said that given the attention and support this growth, so try to support the following companies . "the Xiangyang bearing Securities Department said.