Iqela leSithandathu, umboneleli weenkonzo zezimali osebenza kwiZurich Stock ExchangeI-Swiss Stock Exchange ephambili, iphehlelele i-Public Offering (OPA) yezabelo kwi-BME ngexabiso elipheleleyo le-2.842,92 yezigidi zeerandi. Ngexabiso lokusebenza okungama-34 euros ngesabelo ngasinye. Kufuneka kukhunjulwe ukuba ibhidi yokuthabatha, isibonelelo sikawonkewonke sokufumana izabelo okanye ezinye izinto ezikhuselekileyo, ngumsebenzi wentengiso apho enye okanye ezinye iinkampani zenza isithembiso sokuthenga izabelo kubo bonke abanini zabelo benkampani.
Unikelo loLuntu lokuFunyanwa kokuThengiswa kunokubanakho okanye kungangabi bobobuhlobo, kodwa kule meko ibe yeyokuqala kwezi meko. Kwaye ngexabiso elihlangabezana nokulindelwe ngabatyali mali ngokuba ngaphantsi kwexabiso elidwelisiweyo ngelo xesha. Isiphumo khange kube kudala singene kwiimarike ze-equity kwaye izabelo zeBolsas y Mercados de España zixabisile. malunga ne-35% nanjengoko iluncedo olukhulu ekusebenzeni kwabo.
Kuzo naziphi na iimeko, bekude ixesha elide ukusukela ukwenziwa kwezi mpawu kwenzeke kwimarike yestokhwe saseSpain kwaye ke bekumangalisa ukuba kwenziwe ngolu hlobo. Kodwa ngaphezulu kwako konke ngenxa yemali yayo, ethe ngandlela thile yamangalisa iiarhente ezahlukeneyo kwiimarike ze-equity. Kungoku kuphela kokuba le ntengiso yoLuntu yokuFumana ifunyenwe kwiintsuku ezimbalwa ezizayo. Kodwa ngaphezulu kwako konke, izicwangciso zotyalo-mali ezinabo abatyali zimali abancinci nabaphakathi ngoku banazo.
Ukubhida kwakhona kwi-BME nge-euro ezingama-34
Ixabiso elithe lasungulwa lokuNikezelwa koLuntu lokuFumana (i-OPA) kwizabelo kwi-BME sele liphelile I-34 euro ngesabelo ngasinye. Yimali eyimali ngaphambi kokuba kuqhutywe umsebenzi, kuya kuba ngumdla kakhulu kubatyali mali ukuba ibe lixabiso layo lingaphantsi kwesi sixa, malunga nee-euro ezingama-30. Nangona emva kokunyuka kwabo kwimarike yemasheya, izabelo zeBolsas y Mercados de España ziye zangaphezulu kancinci kwe-35 zeerandi. Ngeli xesha, kubalulekile ukuhlalutya izicwangciso ezahlukeneyo abanazo abatyali mali ngexabiso lemarike eqhubekayo yezabelo zaseSpain.
Kungenxa yokuba akukho mathandabuzo ukuba kufuneka yahlule phakathi kwabatyali mali esele benendawo zabo kwezokhuseleko kunye nabo bangaphandle kweemarike zezemali. Kuba baya kuba neendlela ezahlukeneyo zotyalo-mali. Ngokwahluka kwindlela yabo yokusebenza ngaphambi kwentshukumo engaziwa kakhulu kwinxalenye enkulu yabasebenzisi bemakethi yesitokhwe. Kwaye banokwenza ukuba intshukumo inenzuzo ngokusekwe kwiminqweno yabo xa bejongana nezinto ezinokwenzeka kwiiveki ezizayo. Apho kunokuba khona ibhidi entsha yokuthatha ngenye inkampani yangaphandle.
Ixabiso lokuqala lidlulile
Abatyalomali ababebekwe kwixabiso sele beza kuba nengeniso ekusebenzeni kwalo Mnikelo woLuntu wokuFumana (i-OPA). Ke ngoko baya kuba iinketho ezimbini Ukusuka kula mathuba, apho eyokuqala iya kuba kukuhlengahlengisa izikhundla zabo kwixabiso kwaye bonwabele iinzuzo ezinkulu ezifunyenweyo. Ngokuqinisekileyo iya kuba lelona nyathelo lisengqiqweni lokufumana inzuzo kulo msebenzi ungalindelekanga kwimarike yemasheya. Kodwa banokhetho lwesibini, olubandakanya ukulinda ixabiso lentengo yokuthabatha inyuswe yenye inkampani, nangona kule meko kukho umngcipheko wokuba umsebenzi awuzukuqhutywa.
Kwelinye icala, ukuba ngaba alixabisekanga, sele kuyingozi kakhulu ukuthatha izikhundla zokuvelisa enye inzuzo kubo. Iya kuba yindleko yokuphucula i-Public Acquisition Offer (i-OPA), elula ngoku. Kodwa ukuba akunjalo, kunjalo ayinakuthathelwa ingqalelo ngumsebenzi onomdla kuba kunzima kakhulu kwixabiso lezabelo ukugqitha kumanqanaba akhoyo kwikoteyishini. Kwaye ukwenza njalo kuya kuba phantsi kwemida encinci kakhulu yenzuzo. Ke ngoko ayingombono olungileyo ukungena kule nkampani idwelisiweyo ngokwamanqanaba exabiso langoku.
Yiya kwi-OPA
Inketho yesithathu yokuba abatyali mali abancinci nabaphakathi kwisitokhwe abanayo kukuba bayaya na okanye hayi kule Ntengiso yoLuntu yokuFumana. Ukusuka kule ndawo yokujonga, ngumsebenzi onomdla kakhulu kwimidla yakho yobuqu kuba banokufumana imbuyekezo kule ntshukumo yemarike yemasheya phakathi kwe-20% kunye ne-40% ngokusekwe kwixabiso lentengo eyenziwe ngaphambi kwale ntengiselwano kwimarike yemasheya. Inzala abangakhange bacinge ngayo nangaliphi na ixesha abanokuyiphumeza ngale nkampani idwelisiweyo. Ukusilela oko, banokulinda ixesha elincinci ukukhawulezisa inzuzo yabo ukuze babone ukuba izabelo zabo zingagqitha amanqanaba ee-euro ezingama-36.
Elinye icandelo ekufuneka livavanywe kulo msebenzi kukuba i-BME lukhuseleko oludweliswe kwimarike yesizwe eqhubekayo kwaye yabhaptizwa yehla utyholwa kakhulu. Emva kokuba kudweliswe iminyaka emininzi kwisalathiso esikhethiweyo sezabelo zaseSpain, i-Ibex 35. Nangona kufanelekile ukuba uqaphele ukuba inqanaba layo lokwenza imali alizange liphakame kakhulu, kodwa ngokuchaseneyo ibe yenye yeendlela zokubheja kwimarike yemasheya ngemali encinci Ukwenza uhlengahlengiso ekungeneni nasekuphumeni kwamaxabiso ezokhuseleko kunzima kakhulu.
Iikhredithi kolu tyalomali
Amanye amaziko ezemali abonelela ngezemali kwabo bathengi bafuna ukuya esidlangalaleni kwaye ngexesha elichanekileyo, kuyo nayiphi na imeko, abanayo imali eyimfuneko yokujongana nomsebenzi wabo wokuthenga. Ngamanye amaxesha ngokusebenzisa iikhredithi ezikhethekileyo eziza kusebenza kwiNtengiso eQhelekileyo kwaye, kwezinye ngokusebenzisa umgca wemali mboleko ukuya kwi-OPA, ihlala ixabisa imali engaphantsi kwama-50.000 euros kunye nelona xesha liphezulu lokuhlawula elifikelela kwiminyaka emihlanu.
Ngale ndlela, abasebenzisi abakhetha le ndlela yokuthenga ngetyala kufuneka bazi ukuba kuya kufuneka bahlawule phakathi kwe-7% kunye ne-9% yenzala, apho kuya kuthi kongezwe ubuninzi be-0,5% ukulungiselela ukuvula ikhomishini, ethi ithande ukuba inzuzo ifumaneke kwimarike yemasheya ingaphezulu kwe-10%, ukuze umsebenzi ube nenzuzo kwimidla yabo. Le mveliso yezemali ngokubhekisele kwimigca yeentengo zemboleko inokufumaneka kwintengiso yebhanki phantsi kwezinye iindlela ezonelisayo ngakumbi kubatyali zimali zentengiso. Umzekelo, kwimali mboleko esekwe ekubeni ungumnini wedipozithi, ukhuseleko okanye iimali kwaye uneakhawunti kunye nequmrhu elinikezela ngejelo lezemali. Kule meko, banokucelwa ngayo nayiphi na imfuno enokuthi ivele ngaphandle kokurhoxisa utyalo-mali olwenziwe.
Ngayiphi na imeko, lo msebenzi uvumele abasebenzisi ukuba basebenzise uMrhumo wokuThengwa koLuntu ngamandla okukhula okwenziwa ziimarike zezemali. Kwaye ngale ndlela bavala izikhundla kwixabiso ngendlela eyonelisayo kwimidla yabo njengabatyali mali abancinci nabaphakathi. Oko kukuthi, emva kwayo yonke loo nto, yenye yeenjongo zayo eziphambili. Emva kokuba iBME inyuke ngaphezulu kwe-34%, kwaye yagqitha kwixabiso lesicelo sokuthatha. Isigqibo sabo kufuneka senziwe ngokusekwe kwiimpawu zabo njengabatyali mali kwaye kuzo zonke iimeko kwisithuba se ixesha alikho lide kakhulu Ngenxa yeemeko ezizodwa zalo msebenzi othuse wonke umntu.
Imiqathango yokusebenza
IKomishini yezoKhuseleko kuZwelonke iye yaziswa ukuba namhlanje SIX GROUP, AG (“NTANDATHU”), Inkampani engumzali yeqela elilawula ukwakhiwa kweemarike kunye neenkqubo zemali eSwitzerland, yenze ibhidi yokuthatha kwakhona kwi-100% yezabelo ye-BME, inikezela ngexabiso lama-euro angama-34 ngesabelo ngasinye (banikele”), Ngokuxhomekeke kwimeko yokuba yamkelwe ngabanini zabelo abambe iipesenti ezingama-50 kunye nesabelo esinye sezabelo zeBME, kwaye kugunyaziswe ngokusemthethweni.
Esi sithembiso sandulelwa ziingxoxo phakathi kwabameli be-SIX kunye ne-BME, ngexa i-SIX iye yazisa iBhodi yaBalawuli ye-BME iprojekthi yayo yolawulo kulawulo lwexesha elizayo lweemarike, iinkqubo nolwakhiwo olulawulwa yi-BME, kunye nezibophelelo uzimisele ukuthatha inxaxheba ngokuchasene neBME kunye nabasemagunyeni baseSpain ukuze baqinisekise ukulondolozwa kwesidima kunye nozinzo lweemarike esele zikhankanyiwe, iinkqubo kunye nolwakhiwo.
Intengiselwano ecetywayo yi-SIX inecandelo eliphindwe kabini: kwelinye icala, elinxulumene nemimiselo yezoqoqosho ye-Offer; kwaye, kwelinye icala, leyo inxulumene nesicwangciso seshishini seshishini esidibeneyo esiya kuthi siphume kwiNtengiselwano ukuba sibe yimpumelelo, kwaye ngokukodwa kuyo yonke into enxulumene nolawulo lwexesha elizayo lweemarike, iinkqubo kunye nolwakhiwo olunikwe ngoku ukuya kwi-BME. Kwintsebenzo entsha kwimarike yaseSpain.