On T day (online IPO subscription day), investors can inquire about their market value or subscription amount through the securities company designated for trading, and investors can subscribe for new shares according to the subscription amount; Match the number on the same day and send the matching result data. New shares in Shanghai stock market, one number per 1000 shares; New shares of Shenzhen Stock Exchange are issued once every 500 shares.
If the starting number is displayed in the software, other numbers will be postponed according to the number, and the starting number shall prevail.
For example, if the investor's initial allocation number is 30000 1 and the allocation number is 2, the allocation numbers are 30000 1 and 300002 respectively.
Shenzhen Stock Exchange:
After T day (online IPO subscription date) 15:00, China Clearing Shenzhen Branch confirms the total amount of effective subscriptions, assigns a number to each subscription unit, and continuously assigns numbers to all effective subscriptions in chronological order until the last effective subscription, and allocates new shares according to the following principles:
(1) If the effective subscription amount is less than or equal to the online circulation, there is no need to draw lots. All numbers are lottery numbers, and investors can subscribe for new shares according to their effective subscription amount.
(2) If the effective subscription amount is greater than the online circulation, the winning number of the effective subscription shall be determined by drawing lots, and each winning number shall subscribe for a new share of the subscription unit. China Clearing Shenzhen Branch will send the number matching result data to all settlement participants who participate in the subscription after the transaction on T day (the online subscription day of new shares), and all settlement participants will release the number matching result to investors at T+ 1
Shanghai Stock Exchange:
When the total amount of online subscription is greater than the total amount of online issuance, the Shanghai Stock Exchange will uniformly and continuously allocate numbers to effective subscriptions according to the rule of allocating one number per 1000 shares. The Shanghai Stock Exchange will send the matching result data to the securities company after T-day, and the business department of the securities company will release the matching result to investors at T+ 1. On T+ 1 day, the lead underwriter announces the winning rate. When the effective subscription amount is greater than the online issuance amount, under the supervision of the notary department, the lottery will be organized according to the total placement amount and winning rate, and the winning result will be announced on T+2. Each winning number can subscribe for 1000 new shares.
References:
Detailed rules for the online issuance of initial public offerings in Shanghai market and detailed rules for the online issuance of initial public offerings in Shenzhen market.