The formula for calculating the winning rate of new shares is: the winning rate of new shares = the number of valid subscribed shares * 100%. The lottery of new shares can be divided into online subscription and offline subscription. Generally, small and medium investors are suitable for online subscription. There is a high probability that the new bonds will rise after listing. Although there is also the risk of breaking, the overall loss is limited.
Why is the winning rate of convertible bonds low?
Convertible bonds, like new shares, need investors to operate in trading software After submitting the subscription, everyone depends on luck and the winning rate is not high. The low success rate of convertible bonds is mainly caused by the following reasons.
1. A large number of participants. As long as the quality of a convertible bond is not bad, many investors subscribe in the market, because participating in convertible bonds does not require any investment experience and there is no requirement for funds, so the winning rate is naturally low.
2. Most of them were distributed to shareholders. The issuer of convertible bonds is a listed company. In many cases, a considerable part of the issued convertible bonds are distributed to the original shareholders, and only a small part is competed by the retail investors in the market.
Of course, not all convertible bonds have a low winning rate. For example, the winning rate of some convertible bonds with large circulation or temporarily bad fundamentals may exceed 10%. However, although the winning rate is high, investors should pay attention.
Convertible bonds with large turnover will have a certain selling pressure after listing. Because the plate is big, the pressure of price increase will be relatively greater, and the expected income may not be reached.
As for convertible bonds with bad fundamentals, the uncertainty in the future will be even greater. After all, there are still more than 20 days before the issuance and listing of convertible bonds, and no one can say what will happen during this period.
It is possible that the share price of listed companies will rise sharply during this period, thus increasing the market value of convertible bonds. Of course, it is also possible that the price will drop sharply and the convertible bonds will be broken when they are listed. The fundamentals are not very good convertible bonds, and the overall risk is greater.