在证监会、国资委正式决定启动“以股抵债”试点的背景下,电广传媒成为证券市场首家“以股抵债”试点公司,此举将直接减少总股本特别是国有股的数量,因此也被称为“全流通的另类途径”,其定价机制和表决机制更具创新价值,但操作中仍需防范“走偏行为”及市场炒作风险。 Under the background of the formal decision of the China Securities Regulatory Commission and the SASAC to initiate the trial of “stock-based debt repayment”, E-Media became the first “stock-to-debt” pilot company in the securities market, which would directly reduce the total number of shares, especially state-owned shares, and therefore Known as the “alternative approach to full circulation”, its pricing mechanism and voting mechanism have more innovative value, but they still need to guard against “deviationist behavior” and market speculation risk during operations.