1, the status has improved;
On the one hand, due to the unremitting efforts of the regulatory authorities, the status of circulating shareholders in consideration negotiations has been improved, and finally the consciousness that circulating shareholders are also shareholders of the company has been realized.
On the other hand, the concept of circulation right was established in the process of share reform, that is to say, at the circulation level, the rights of circulating shareholders are superior to those of non-circulating shareholders, so if non-circulating shareholders want to obtain circulation right, they must pay the consideration and obtain the consent of circulating shareholders.
Therefore, only with the overwhelming reports and comments on investor relations can circulating shareholders have the value of voting rights, which undoubtedly makes circulating shareholders win an unprecedented victory in spirit.
2. Material harvest
The shares held by tradable shareholders not only represent the shares of listed companies, but also represent the rights of non-tradable shareholders to agree to circulation.
Therefore, non-tradable shareholders need to pay consideration to tradable shareholders in order to obtain the right to circulate. At present, the consideration scheme is basically at the average level of 10, which means that the equity held by circulating shareholders will increase due to the share reform of listed companies, which is a material gain.
Extended data:
Background of share reform:
When the China stock market was first established, most of them were listed shares of state-owned enterprises. Generally speaking, the controlling shareholder of state-owned enterprises is the state or state-owned assets management departments at all levels. This is also the origin of state-owned shares and legal person shares, which cannot be listed and circulated like ordinary shares.
State-owned shares, legal person shares and common shares have formed a situation of "the same share has different rights and the same share has different benefits", which is not conducive to the development of the stock market. In this way, "non-tradable shares" slowly began. The purpose of share reform is to let state-owned shares and legal person shares "enjoy" the market treatment of common shares, participate in market circulation, and realize the same rights and interests through full circulation.
Baidu encyclopedia-share reform