高盛受阻

Goldman Sachs Feels the Pain

2007年11月12日，对于A股上市公司阳之光（600673.SH）、华尔街老牌投行美国高盛集团（Goldman，Sachs＆Co.）以及阳之光的其他投资者来说，是一个特别的日子。当天早上，阳之光刊登停牌公告说，因中国证监会发审委审核公司的定向增发申请，公司股票全天停牌。

Goldman Sachs group has launched its acquirement plan of listed companies in Shanghai Stock Exchange,starting with cases like Shineway Group,Midea Group,Fuyao Glass Industry Group and Chendu Yangzhiguang Industrial Co.But Goldman Sachs has to face up with a common problem in China:Once it decides to join some companies,the latter's price will soar immediately,which later makes it more difficult to complete the deal.Midea and Fuyao cases is not permitted,and Yangzhiguang becomes another gamble. Both investment banks and local companies feel the restriction on foreign investment policy in China.If Goldman Sachs fails,can enterprises like Yangzhiguang still fulfill its financing target? Will it make secondary public offering,select strategic partners or just wait? No details from them yet. What's more important,the chance of exploring overseas market through investment bank seems rather slim.