The wrong name listed futong showa dream broken?

Many investors against commercial company stock name appear in the word "showa" hurt the feelings of the Chinese people

Report from our correspondent: it is the unforeseen!On September 1, futong showa optical communication co., LTD business company released its initial public offering of stock prospectus summary, will be released on September 4, 40 million shares of the common stock, on September 2 in online roadshow, but unexpectedly, futong showa again yesterday released the delay issued a public announcement.The dramatic scene for futong showa, is temporary delay the ipo, or the commercial listed company plans to double digits?

No name

Futong showa yesterday said public disclosure of information, so the time of the issuance of 40 million shares of A shares preparation is not well, the decision to delay the release.

Why will appear this dramatic episode?

Futong showa one contact zhi-qiang yu down to answer a reporter on the phone.He said: "even if I don't speak, you should also know the reason why futong showa delay issue.The reporter asked whether with this name, futong showa said zhi-qiang yu did not rule out the possibility.And fortis zhao and the public offering the retained guoco officials said, the law firm futong showa to them because there are some problems with commercial company name.

It is reported that many investors protest futong showa stock name in the word "showa", said this hurts the feelings of the Chinese people.And investor said, according to the regulations of < the private enterprise name registration >, the private enterprise name shall not harm national and social public interests, and the word "showa" has appeared on China's business in the name of the company, in violation of the regulations of < the private enterprise name registration >.

The delay has nothing to do with performance

Is it because of fortis showa unlisted delay its performance of landslides?Futong showa referred to in the prospectus, net and commercial companies appear to be larger fluctuation, 2002 net profit year-on-year % 45, 38.

Zhi-qiang yu resolutely denied the claim.

Futong showa lead underwriters of initial public offering of citic securities agent Lu Zhilong introduction, futong showa declines in 2002 is mainly influenced by hui, not a commercial company own business problems.Commercial company purchasing a large part of the raw materials are from Japan, the yen in 2001, commercial companies gain the income 15 million yuan, but by 2002, the Japanese yen appreciation, giving futong showa was the loss of 4 million yuan.Futong showa 2002 faces environment is worse than in 2001, however, this is only the secondary cause of commercial revenue decline.

Delayed release effects hard to predict

Futong showa listing plan is double digits, zhi-qiang yu and Lu Zhilong said "it's hard to predict.Zhi-qiang yu said about futong showa details, and the reason of delayed issuing commercial company some time may make more disclosure, about the fortis zhao and delays, disclosure of information have been revealed, he can say is these at the moment.

Futong showa controlling shareholders of fortis and showa electric wire, the legal representative of the actual holdings are fortis Wang Jianyi.Wang Jianyi rich list in 2001. 99 and showa electric wires are listed on the Tokyo stock exchange business company.Fortis and showa electric wire currently hold fortis zhao and 47 respectively, 39% and 45, 53% of the shares.

Reporter asked, because our country stock market existence of tradable shares and non-tradable equity split, market to foreign companies through A share ipo price by excess earnings controversial, futong showa background is the second largest shareholder of foreign commercial company the reason of the delay, zhi-qiang yu said, do not rule out this possibility, and Lu Zhilong said, it's hard to say.

Note: the above articles from September 3, 2003 times > < information securities/news edition