The Research On Convertible Bonds Financing Case Of Nanshan Aluminum

Convertible bonds,can be referred to as the Switching Company bonds.itIs a bond that gives the investor the right to convert a company's common stock at a specified period,in accordance with the specific conditions of the prior agreement or subsequent modification.with stock,bond and call options as a whole,Convertible bonds have the advantage which traditional equity financing and debt financing does not not.Since the beginning of 1990 s,the issuance of convertible bonds financing to some enterprises as the representative of the Baoan,so far,the bond market is booming,has become one of the important means of financing capital market.In addition,when using convertible bonds to finance,most enterprises pay attention to its low cost advantage,and ignore the existence of the risk,so the listed companies should be combined with the specific situation to choose the financing way carefully.This paper based on the case of Nanshan convertible bond starting from the advantage of convertible bond and then finding out the problems of convertible bond financing,for example,convertible bond financing timing of Some listed Companies is improper,convertible bond financing is inefficient and convertible bond issue Information disclosure irregularly and so on.At the same time analyze the internal and external factors of Chinese listed companies.And finally make accordingly recommendations which the listed companies in China can take the advantage of,including design the convertible bond issue terms reasonably,strengthen risk awareness,choose the proper time to issue convertible bond,perfect Convertible bondin formation disclosure system,and perfect internal governance.