When will the new shares be subscribed? When can I buy new shares?

Online subscription process of new shares Investor subscription (T day): Investors pay the subscription money in full within the subscription time and entrust the subscription. Freeze of funds (T+ 1): China Clearing Company will freeze the subscription funds. Capital verification and numbering (T+2 days): According to the final effective subscription amount, the exchange assigns a number to every 65,438+0,000 shares (500 shares in Shenzhen, the same below), and the trading host automatically assigns a unified and continuous number to the effective subscription. Lottery (T+3 days): announce the winning rate, organize a lottery according to the total number of people and the winning rate, and announce the winning results the next day. ☆ Funds unfreezing (T+4 days): unfreeze the unsuccessful subscription. Note: Individual stocks are issued according to a special process, that is, the winning and countersigning funds are announced on T+3. For example, Ping An of China made online subscription on February 12, and the online subscription funds were released on February 15. 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. For example, when can I buy new shares? 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. The subscription assumes that XX shares will be issued on the Shanghai Stock Exchange on June 1 day 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. The funds participating in the subscription will be frozen. 2. On the second day after the subscription date (T+2), the exchange 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 amount, there is no need to draw lots, all matching numbers are lottery numbers, and investors 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. 3. The winning rate will be announced on the third day (T+3) after the lottery subscription date. According to the general allocation number, the lead underwriter will preside over the lottery to confirm the winning result, and the winning result will be announced in the designated media on the first trading day (T+4 days) after the lottery. Each winning number can subscribe for 1000 new shares. 4. On the fourth day (T+4th day) after the funds are unfrozen, unfreeze the unsuccessful subscription. If Zhang San wins 1 0,000 shares, 1 10,000 yuan will be returned to the account. If he doesn't win the lottery, 500 thousand will be returned in full. 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.