樂歌股份(300729.SZ):近期“樂歌轉債”價格較大偏離與公司股價之間的關聯 存在較大的估值風險
格隆匯 11 月 12日丨樂歌股份(300729.SZ)公佈,公司於2020年10月21日向不特定對象發行了142萬張可轉換公司債券,每張面值為人民幣100元,發行總額人民幣1.42億元。公司可轉換公司債券於2020年11月10日起在深圳證券交易所掛牌交易,債券簡稱為“樂歌轉債”,債券代碼為“123072”。
2020年11月12日,“樂歌轉債”日收盤價為230元/張,當日漲幅為46.50%,自2020年11月10日至公告披露日,累計漲幅為130%,轉股溢價率達207.04%,均處於較高水平。當日成交量為207.2萬手,換手率高達1459.24%,處於交易異常狀態。依據相關規則,可轉債交易不設置漲跌幅限制,可能存在價格大幅波動的風險。
資本市場是受多方面因素影響的市場,公司可轉債價格可能受到來自國內外宏觀經濟形勢、金融市場流動性、資本市場氛圍、短期技術指標、投資者心理等因素影響。通常情況下,股票價格與其可轉債價格高度正相關,且不存在超高溢價率的情況。近期,“樂歌轉債”價格較大偏離與公司股價之間的關聯,存在較大的估值風險。“樂歌轉債”的價格較高,主要系公司可轉換公司債券流通量較少,可轉換公司債券價格易受市場資金影響。敬請投資者注意投資風險。
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