How to buy new IPO shares?

General process of IPO (I) Application procedures for online competitive issuance The specific procedures for online competitive issuance of new shares are as follows: 1. For competitive issuance of new shares, the main seller must apply to the stock exchange with the approval document of China Securities Regulatory Commission, and organize the implementation after examination. The issuer shall, at least 2-5 working days before the implementation of the tender, publish the prospectus and issuance announcement in the newspapers and periodicals designated by the China Securities Regulatory Commission and the local newspapers and periodicals issued as required. 2. Any individual or institutional investor who holds a stock account of a stock exchange may participate in the subscription of new shares, except for stocks explicitly prohibited by laws and regulations. Investors who have not yet handled the stock account can register and open the stock account in advance through the securities registration and settlement institution of the exchange and the local registration institution, and deposit enough subscription funds in the securities business department that is allowed to start the stock trading business before entrusting the bidding subscription. 3. Investors should handle the entrusted subscription of new shares by bidding within the business hours of the specified auction date, which is similar to the ordinary entrusted subscription of stocks. The subscription price shall not be lower than the reserve price set by the company, the subscription amount shall not exceed the limit stipulated in the issuance announcement, and each stock account can only be declared once. 4. When the new shares are declared by competitive bidding, the lead underwriter is the sole underwriter, the declared quantity is the actual number of new shares issued, and the sales price is the reserve price. 5. The principle of closing a new share auction (i.e. subscription confirmation) is the call auction method. That is to say, under the same price, the purchase declaration is arranged according to the principle of price priority and time priority. When the cumulative effective subscription amount above the declared subscription price reaches the declared sales amount (that is, the actual number of new shares issued), this price is the issue price. When the purchase declaration of the declared price cannot be fully satisfied, the transaction shall be conducted according to the principle of time priority. When the cumulative number of valid declarations does not reach the actual number of new shares issued, all valid declarations will be closed at the reserve price. The balance of the declared subscription shall be handled in accordance with the underwriting agreement signed by the lead underwriter and the issuer. 6. After the actual issue price is generated by the computer host, it is immediately announced to the public through the market transmission system, and the transaction (subscription) return data is immediately sent to the securities business departments. 7. After the issuance of new shares by competitive bidding, the fund settlement will be incorporated into the daily clearing and settlement system, and the securities registration and settlement institution of the exchange will transfer the subscription funds from the settlement account of the securities company to the settlement account of the lead underwriter; At the same time, the securities business department prints the "transaction transfer delivery voucher" according to the transaction receipt, and goes through the delivery formalities with the investor (subscriber). 8. After the bidding is completed, the registration of new shares will be automatically completed by the computer host after the bidding, and will be handed over to the lead underwriter and issuer by the securities registration and settlement institution of the exchange in the form of floppy disk. In case of doubt, investors can hold valid certificates and relevant documents to inquire with securities registration and settlement institutions and their dispatched offices. 9. When issuing new shares by competitive bidding, investors only need to pay the commission fee according to the regulations, and do not need to pay any other fees such as commission, transfer fees and stamp duty. 10. The securities business department participating in the new share auction may charge the underwriting fee to the lead underwriter according to the proportion of 3.5‰ of the actual transaction (subscription amount), and the securities registration and settlement institution of the exchange shall be responsible for the daily disbursement. (2) subscription procedures for online pricing issuance 1. At present, the specific principle of online pricing issuance is: 1. When the total effective subscription amount is equal to the current share issuance amount, investors subscribe for shares according to their effective subscription amount. 2. When the effective subscription amount is less than the stock issuance amount, after the investor subscribes for the stock according to the effective subscription amount, the balance shall be handled according to the underwriting agreement. 3. When the total effective subscription amount is greater than this stock issue, the host computer of the stock exchange will automatically determine a declaration number for every 65,438+0,000 shares, and then draw lots, and each winning number will subscribe for 65,438+0,000 shares. Two. The specific procedures for online pricing issuance of new shares are as follows: 1. Investors shall, before accepting the subscription entrustment, deposit the subscription money in full into the account designated by the securities business department networked with the stock exchange that handles this issuance. 2. On the subscription day (T+0), investors subscribe and the stock exchange accepts feedback. During the online subscription period, investors fill in the entrustment order at the issue price by entrusting to buy shares, and once declared, they may not withdraw the order. Investors who purchase for many times, except for the first time, shall be regarded as invalid. The subscription entrustment of each account shall not be less than 65,438+0,000 shares, and the number of shares exceeding 65,438+0,000 shares shall be an integral multiple of 65,438+0,000 shares. The upper limit of the number of shares subscribed for each stock account is one thousandth of the number of shares publicly issued at that time. 3. The subscription funds will be recorded on (T+ 1) day, and the registration and calculation institution of the stock exchange will freeze the subscription funds in the subscription account. If the subscription funds cannot be received in time due to the bank settlement system, the transfer voucher remitted through the electronic interbank system of the People's Bank of China on T+ 1 day shall be provided to ensure that the subscription funds are received in the morning of T+2. All subscription funds will be frozen in the subscription account of the designated clearing bank. 4. On the second day after the subscription date (T+2), the registration and calculation institution of the stock exchange shall cooperate with the lead underwriter and the accounting firm to verify the subscription funds, and the accounting firm shall issue a capital verification report, with the actually paid-in funds (including the transfer voucher provided by the People's Bank of China as required) as the effective subscription with continuous numbers. The stock exchange transmits the distribution number to the stock exchange and announces the winning number through the trading network. 5. On the third day (T+3) after the subscription date, the lead underwriter is responsible for organizing the lottery and announcing the winning results on the same day. The stock exchange shall conduct clearing, settlement and shareholder registration according to the lottery results. 6. On the fourth day after the subscription date (T+4), unfreeze the unsuccessful subscription.