The purpose of the new stock index is that when enterprises put listing on the agenda, they will issue a certain number of shares to the market, some of which will be sold in securities accounts and can be subscribed. The subscription price is often lower than the price on the first day of listing.
The lottery of new shares means that the winning rate is announced according to the rules of the exchange, and the lottery results are confirmed by the lead underwriter according to the total allocation number, and the lottery results are announced in the designated media on the first trading day after the lottery. In China, each winning number can subscribe for 1000 shares or 500 new shares.
Because there are many people who subscribe for new shares and have a lot of money, but the number of issues is limited, it is impossible to have all of them. Because the subscription is based on every 65,438+0,000 shares, and every 65,438+0,000 shares is a subscription unit, a subscription number is obtained, and then a lottery number is drawn. Investors will compare numbers, and some will win the lottery. If not, they won't win. Based on the issuable amount/total subscription amount, the winning rate of new share issuance is obtained.