The upper limit of the subscription amount of new shares needs to be determined by the minimum subscription amount, the upper limit stipulated by the lead underwriter (99.999 million shares in Shanghai Stock Exchange and 999500 shares in Shenzhen Stock Exchange) and the initial online circulation 1‰.
Theoretically, the more you can buy, the wider your coverage and the greater your chances of winning the lottery. The purchase quantity is qualified and limited. The more you can buy, the better.
Playing new shares means using funds to participate in the subscription of new shares. If you win the lottery, you will buy the upcoming shares. To subscribe for new shares, a securities account of Shanghai Stock Exchange or Shenzhen Stock Exchange must be established before the issuance date.
From 20 15, offline institutions and individuals can purchase on the stock exchange, and online purchases can be made by themselves.
The procedures of fund subscription and online pricing issued by the two exchanges are basically the same. On the day of subscription, investors should pay the subscription money in full according to the issue price and effective subscription quantity stipulated in the issuer's issuance announcement, and make subscription entrustment. If the subscription amount paid by investors is insufficient, the securities trading outlets shall not accept the relevant subscription entrustment. Suppose Zhang San has 500,000 cash in his account, and he wants to participate in the subscription of new shares called "×××××". The subscription procedure is as follows:
1, subscribe
XX shares will be issued in Shanghai Stock Exchange on June 1 at the issue price of 5 yuan/share. On June 1 day (T-day), Zhang San can use this 500,000 yuan to buy up to 654.38+10,000 shares of XX through the entrustment system from 9: 30 am to1:30 am or 1 ~3 pm.
Step 2 match the number
On the second day after the subscription date (T+ 1), SSE will issue new shares according to the effective subscription amount: (1) If the effective subscription amount is less than or equal to the online circulation, there is no need to shake the number, and all distribution numbers are lottery numbers, and investors will subscribe for shares according to the effective subscription amount;
(2) If the number of subscriptions is greater than the online circulation, the effective subscription winning numbers shall be determined by drawing lots, and each winning number shall subscribe for a new subscription unit share. Subscriptions often exceed circulation.
Step 3 win the lottery
The winning rate will be announced on the third day (T+2) after the purchase date, and the winning result will be confirmed by the lead underwriter according to the total allocation number. The winning result will be announced in the designated media on the first trading day (T+3) after the lottery. Each winning number can subscribe for 1000 new shares.
4. Unfreeze funds
On the fourth day (T+3) after the subscription date, unfreeze the unsuccessful subscription. If Zhang San wins 1 1,000 shares, then 495,000 yuan will be returned to the account. If he doesn't win the lottery, all 500 thousand will be returned. Investors should also note that the issuer can call back the number of online issues and the number of offline issues according to the subscription situation, and finally determine the number of shares allocated to institutional investors and public investors.