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5月15日,TOL集团(000100)股东大会以高票通过了手机业务分拆上市融资的议案。5月18日,集团股价盘中见到6.32元,为上市百日以来最低点,距最高点已趺去33％。有媒体惊呼:“TOL集团狂遭机构抛售。”抛售的诱因之一就是分拆上市。其实分拆并非毫无先兆:集团25亿元的巨额募资中没有一分钱投向盈利最丰、成长最快的手机项目。但投资者们普遍没有意料到,这家刚刚上市的公司竟会如此急不可耐,毫不掩饰对资金的强烈渴求。他们此时已被“俘获(Capture)”,无法割肉而去。近年来,被TOL集团俘获的不只是投资者。2002年10月底,集团以820万欧元的
May 15, TOL Group (000100) General Assembly adopted a high vote by the mobile phone business spin-off motion. On May 18, the Group saw a gain of 6.32 yuan on the intraday basis, the lowest level since the market was listed on the 100th day and has reached 33% from the highest point. Some media exclaimed: “TOL Group Kuaidan agencies sell-off.” One of the incentives to sell is the spin-off listing. In fact, the spin-off is not without any aura: the group's 2.5 billion yuan in huge fund-raising no penny invested in the most profitable, fastest-growing mobile phone project. However, investors generally did not expect that the newly listed company would be so impatient that it would not conceal the strong desire for capital. At this point they have been “captured” and can not flesh out. In recent years, it has been captured by TOL Group not just by investors. By the end of October 2002, the group took 8.2 million euros