時隔7個(ge)月(yue)后，A股市場終于又浮現借殼上市預案。而且這(zhe)次要借殼的是(shi)新三板掛牌(pai)公司深裝總(zong)。此(ci)前新三板公司華圖(tu)教(jiao)育曾兩次欲通過重組(zu)登陸A股市場，均折(zhe)戟而返(fan)。此(ci)次深裝總(zong)能否(fou)成功闖關(guan)還需觀察。

值(zhi)得關注的(de)是，由于借殼主體在(zai)新(xin)三板(ban)市場(chang)交易了近一(yi)年(nian)，導致其自然(ran)人股東人數(shu)多達59名，而機構(gou)投(tou)資者(zhe)亦(yi)多達36家，且不少是存續期較短的(de)資管(guan)計劃。若借殼成功，這(zhe)些股東換取到(dao)的(de)A股上市公司股權多數(shu)還需(xu)要(yao)鎖定2年(nian)。這(zhe)會否衍生出新(xin)問題？

數十家機構潛伏(fu)標的方

因重(zhong)大資(zi)產重(zhong)組停牌多時的ST云維(wei)5日晚間發布公(gong)(gong)(gong)(gong)告，公(gong)(gong)(gong)(gong)司(si)(si)擬以2.61元/股(gu)的價(jia)格發行18.45億股(gu)，作(zuo)價(jia)48.15億元收購新(xin)三板公(gong)(gong)(gong)(gong)司(si)(si)深裝總（835502）98.27%股(gu)權。交易(yi)完成(cheng)(cheng)后，公(gong)(gong)(gong)(gong)司(si)(si)主營業務(wu)將(jiang)(jiang)變更為公(gong)(gong)(gong)(gong)共建筑裝飾(shi)工(gong)程、住(zhu)宅裝飾(shi)工(gong)程、建筑幕(mu)墻裝飾(shi)工(gong)程和(he)建筑設(she)計等(deng)，李(li)(li)興浩及其(qi)一致行動人(ren)中亙投資(zi)、鄭鳳梅將(jiang)(jiang)持有(you)公(gong)(gong)(gong)(gong)司(si)(si)25.74%股(gu)份，李(li)(li)興浩將(jiang)(jiang)成(cheng)(cheng)為公(gong)(gong)(gong)(gong)司(si)(si)控股(gu)股(gu)東及實際控制人(ren)。本次交易(yi)構成(cheng)(cheng)借殼上市。

公告顯示，深(shen)裝(zhuang)(zhuang)總(zong)于(yu)2016年4月在全國(guo)中小企(qi)業(ye)股份轉讓系(xi)統掛牌，轉讓方式為(wei)協議轉讓。2016 年深(shen)裝(zhuang)(zhuang)總(zong)營業(ye)收(shou)入為(wei)42.93億元，歸屬于(yu)母公司所有者的凈利潤(run)為(wei)23648.37萬(wan)元。今年2月28日，深(shen)裝(zhuang)(zhuang)總(zong)因籌劃(hua)重大事項在股轉系(xi)統暫停轉讓。

根據Choice金(jin)融終端(duan)數(shu)據顯示，深(shen)裝(zhuang)總(zong)總(zong)股(gu)(gu)(gu)本為6.05億(yi)股(gu)(gu)(gu)，流通股(gu)(gu)(gu)為3.83億(yi)股(gu)(gu)(gu)，停牌(pai)前總(zong)市(shi)值達到(dao)48.4億(yi)元，收盤價8元/股(gu)(gu)(gu)。而從重組預案可見，深(shen)裝(zhuang)總(zong)目前股(gu)(gu)(gu)東人數(shu)多達95名，其中59名為自然人，36名為機構(gou)。

記者注(zhu)意到，36家機構中包括(kuo)達(da)孜縣鼎誠(cheng)資(zi)(zi)本(ben)投(tou)(tou)(tou)(tou)資(zi)(zi)有(you)限(xian)公(gong)(gong)(gong)司(si)－中融－盈潤33號(hao)(hao)(hao)新三板投(tou)(tou)(tou)(tou)資(zi)(zi)基(ji)(ji)(ji)金、北(bei)京中融鼎新投(tou)(tou)(tou)(tou)資(zi)(zi)管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)－中融鼎新－盈潤47號(hao)(hao)(hao)基(ji)(ji)(ji)金、長沙大定投(tou)(tou)(tou)(tou)資(zi)(zi)管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)－大定投(tou)(tou)(tou)(tou)資(zi)(zi)穩健(jian)2號(hao)(hao)(hao)私募(mu)基(ji)(ji)(ji)金、上(shang)(shang)海(hai)本(ben)裕(yu)投(tou)(tou)(tou)(tou)資(zi)(zi)管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)－上(shang)(shang)海(hai)本(ben)裕(yu)投(tou)(tou)(tou)(tou)資(zi)(zi)管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)裕(yu)澤2號(hao)(hao)(hao)基(ji)(ji)(ji)金、上(shang)(shang)海(hai)本(ben)裕(yu)投(tou)(tou)(tou)(tou)資(zi)(zi)管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)－裕(yu)澤1號(hao)(hao)(hao)私募(mu)證券投(tou)(tou)(tou)(tou)資(zi)(zi)基(ji)(ji)(ji)金、浙(zhe)江聯(lian)合(he)中小企(qi)業股(gu)權投(tou)(tou)(tou)(tou)資(zi)(zi)基(ji)(ji)(ji)金管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)－聯(lian)合(he)基(ji)(ji)(ji)金3號(hao)(hao)(hao)新三板基(ji)(ji)(ji)金、深圳(zhen)市(shi)前(qian)海(hai)合(he)之力(li)量創(chuang)投(tou)(tou)(tou)(tou)資(zi)(zi)管(guan)(guan)理(li)(li)(li)有(you)限(xian)公(gong)(gong)(gong)司(si)－合(he)力(li)量創(chuang)起航1號(hao)(hao)(hao)量化投(tou)(tou)(tou)(tou)資(zi)(zi)基(ji)(ji)(ji)金等多個資(zi)(zi)管(guan)(guan)計劃。

ST云維表(biao)示，因標(biao)的(de)方流通股(gu)東較(jiao)多，目前公司、深裝(zhuang)(zhuang)總(zong)正積極與其余持有深裝(zhuang)(zhuang)總(zong)股(gu)份的(de)股(gu)東溝(gou)通其所持深裝(zhuang)(zhuang)總(zong)股(gu)份的(de)轉讓及協議簽署工作。

深(shen)裝總5月(yue)15日(ri)曾(ceng)發布《關于與(yu)(yu)中(zhong)(zhong)(zhong)小(xiao)(xiao)股(gu)東(dong)(dong)溝通股(gu)份轉讓事項的公(gong)(gong)告》稱，截至目前，公(gong)(gong)司因無(wu)法取(qu)得(de)(de)少數股(gu)東(dong)(dong)的有效聯(lian)系(xi)(xi)方式而未(wei)能與(yu)(yu)其(qi)溝通，為使中(zhong)(zhong)(zhong)小(xiao)(xiao)股(gu)東(dong)(dong)的合法權益得(de)(de)到充分、有效的保護，請尚未(wei)與(yu)(yu)公(gong)(gong)司聯(lian)系(xi)(xi)的中(zhong)(zhong)(zhong)小(xiao)(xiao)股(gu)東(dong)(dong)盡快通過以下方式與(yu)(yu)公(gong)(gong)司信息披露義(yi)務人取(qu)得(de)(de)聯(lian)系(xi)(xi)。

潛在新主是(shi)志高空(kong)調創始人(ren)

本次(ci)(ci)交易(yi)前，上(shang)市(shi)公司(si)(si)控(kong)股(gu)(gu)(gu)(gu)(gu)(gu)股(gu)(gu)(gu)(gu)(gu)(gu)東為(wei)煤化(hua)(hua)集團，煤化(hua)(hua)集團直接持有(you)上(shang)市(shi)公司(si)(si)41.91%股(gu)(gu)(gu)(gu)(gu)(gu)權(quan)。煤化(hua)(hua)集團持有(you)云(yun)維(wei)集團48.23%股(gu)(gu)(gu)(gu)(gu)(gu)權(quan)，通(tong)過云(yun)維(wei)集團間接持有(you)上(shang)市(shi)公司(si)(si)0.14%股(gu)(gu)(gu)(gu)(gu)(gu)權(quan)，云(yun)南省國資委持有(you)煤化(hua)(hua)集團100%股(gu)(gu)(gu)(gu)(gu)(gu)權(quan)，為(wei)上(shang)市(shi)公司(si)(si)實(shi)際控(kong)制(zhi)人。本次(ci)(ci)交易(yi)完成(cheng)后，李(li)興浩(hao)及其(qi)一致行動人中亙投資、鄭(zheng)鳳梅將(jiang)持有(you)上(shang)市(shi)公司(si)(si)25.74%股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)，李(li)興浩(hao)將(jiang)成(cheng)為(wei)上(shang)市(shi)公司(si)(si)控(kong)股(gu)(gu)(gu)(gu)(gu)(gu)股(gu)(gu)(gu)(gu)(gu)(gu)東及實(shi)際控(kong)制(zhi)人。在獲得中國證(zheng)監(jian)會的核準后，深(shen)裝總將(jiang)申請從新三板(ban)摘(zhai)牌。

潛在新(xin)主李興浩(hao)頗有(you)來(lai)歷。據深裝總(zong)此(ci)前(qian)公告披(pi)露，李興浩(hao)生(sheng)于1954 年(nian)(nian)，畢業于南(nan)開大學西方(fang)經濟學專(zhuan)業，碩士(shi)研究生(sheng)學歷，高級工(gong)程師。1972 年(nian)(nian)至(zhi)1981年(nian)(nian)，在家務農(nong)；1982 年(nian)(nian)1 月(yue)(yue)(yue)(yue)至(zhi)1994 年(nian)(nian)，先后創辦工(gong)廠(chang)、公司(si)、企業數十家，涉及紡織(zhi)、制衣、塑料、五金、電子(zi)、醫(yi)藥(yao)、制冷維修(xiu)工(gong)程等(deng)領域；1994年(nian)(nian)10月(yue)(yue)(yue)(yue)至(zhi)1997 年(nian)(nian)6月(yue)(yue)(yue)(yue)任南(nan)海志高廠(chang)（廣東志高空調(diao)有(you)限(xian)(xian)公司(si)的(de)前(qian)身）廠(chang)長；1997年(nian)(nian)6 月(yue)(yue)(yue)(yue)至(zhi)2001 年(nian)(nian)3月(yue)(yue)(yue)(yue)，任志高空調(diao)有(you)限(xian)(xian)公司(si)總(zong)經理(li)(li)；2001年(nian)(nian)4月(yue)(yue)(yue)(yue)至(zhi)2009 年(nian)(nian)8月(yue)(yue)(yue)(yue)，任廣東志高空調(diao)股(gu)(gu)份有(you)限(xian)(xian)公司(si)總(zong)經理(li)(li)；2009 年(nian)(nian)9月(yue)(yue)(yue)(yue)至(zhi)今，任志高控(kong)股(gu)(gu)有(you)限(xian)(xian)公司(si)董(dong)事局主席及行(xing)政總(zong)裁。2015 年(nian)(nian)9月(yue)(yue)(yue)(yue)至(zhi)今，任公司(si)董(dong)事。

此次借殼預案頗值得玩味，自(zi)從借殼新(xin)規(gui)出來后，A股市場鮮有(you)闖關者，最(zui)近的一單要追溯到7個月前的新(xin)疆城建。有(you)意思的是，此次深裝總借殼ST云維，也(ye)是民企借殼國資上(shang)市公司，一進(jin)一退之間(jian)，可(ke)見民資之活力。