A股異動丨華泰證券跌5.7% GDR價格相較A股股價存在着約8%的折價
格隆匯10月21日丨華泰證券(601688.SH)跌5.7%,報17.19元,成交29億元,總市值1560億元。由於上週收盤時華泰證券GDR價格相較A股股價存在着約8%的折價,可以預計兑回機制的啟動將在未來兩天內拉低A股股價並抬升GDR價格,並使得兩者價差趨於收斂。考慮到包括換匯成本、兑換成本、資金成本在內的各項套利成本約為5%,這意味着未來華泰證券的A股和GDR間的價差或將長期維持在5%以內。另外,由於初始配售的GDR發行價格較低,如果通過兑回機制兑現收益,也可能對A股價格產生持續拖累。
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