IPO restart is to restart the issuance of new shares! IPO is the abbreviation of initial public offering, which means initial public offering in Chinese, that is, initial public offering of shares. Simply put, it is to issue new shares.
In the history of A-share, * * * restarted six times after seven times of IPO suspension, which did not affect the short-term and medium-term running trend of the market, but the historical law was only a probability event, not an inevitable result.
IPO restarted five times.
The first restart: continuing the downward trend
IPO suspension time: 65438+July 2 1, 0994 ~ 65438+February 7, 0994.
After Yue Hongyuan A was issued on July 20th of 1994, Zhongju Hi-Tech (600872) was issued until February 8th of that year, and the IPO was suspended for about five months.
During this period, after a round of diving, the market quickly bottomed out from about 380 points to 325.89 points, which lasted for about a week, and then began to rise sharply, and soared to 1052.94 points in early September. After that, it returned to the vicinity of 650 on February 7, 65438.
After the IPO was restarted, the market continued to bottom out, and bottomed out to around 524 in February of the following year.
The second restart: continuing the downward trend
IPO suspension time:199565438+1October19 ~1June 9, 995.
199565438+1October 18 Yizheng chemical fiber IPO, in June of that year 12, an IPO of entrepreneurship and environmental protection (600874) was carried out, during which the IPO was suspended for about 5 months.
During this period, the market experienced a sharp rise, from 524.43 points to the highest of 926.4438+0 points in May of that year, and then began to pull back.
Subsequently, the issuance of new shares resumed. On June 12, the market has fallen below 700 points. By the beginning of July, the market had fallen to around 600 points.
The third restart: there is a reversal and an increase.
IPO suspension time:1July 5, 995 ~ 19961October 3.
After the public offering of Dongfang Electric 1995 on July 4th, only Luoyang Glass and Northeast Electric (000585) issued two new shares. It was not until June 4th 1996 that new shares were issued intensively. Therefore, this period of time can also be regarded as a suspension of new share issuance.
During this period, the market went out of a rising period, but it has been unable to break through 800 points, and then plummeted. At the beginning of 1996 and 1, the market fell to around 500 points. After the new shares of Guizhou Tire were issued, the market began to bottom out, and 1 reached the bottom at 12.83.
The fourth restart: continuing the downward trend
IPO suspension time: August 26th, 2004 ~ June 23rd, 2005.
Since the issuance of Shuanglu Pharmaceutical, the issuance of new shares has been suspended again. On June 5438+ 10, 2005, huadian power international (600027) announced the resumption of IPO issuance.
Although there were many rebounds during the suspension period, the downward trend was obvious, and the market hit a new low again. After the IPO was restarted, the market rebounded briefly, from around 1 180 to above 1300. The rebound lasted less than two months and went straight to 1000.
The fifth restart: continuing the upward trend
IPO suspension time: May 25th, 2005 ~ June 2nd, 2006.
This is the longest suspension of IPO in the history of A shares. Because the share reform started, the IPO was suspended for one year. During the suspension period, the market began to rebound sharply and a new bull market came.
On June 5th, 2006, China International (002051) was cut off by the new and the old, which led to a short-term market decline. The market fell from the lowest point 1700 to 15 12.52, but it quickly reached a new high, and then rose all the way above 6000.
From the historical experience, IPO is more of a short-term impact on the market and cannot change the general trend of the market. In fact, investors are more worried about IPO from the psychological level, and its logic of course comes from the supply of new assets brought by IPO, which attracts funds to be diverted to the primary market, so the supply and demand pattern changes and the market falls.
The sixth restart: continuing the upward trend
IPO suspension time: September 2008 16 ~ June 29, 2009.
The seventh IPO suspension occurred at the time of the full-scale financial crisis and lasted for nine months.
Affected by the bankruptcy protection filed by Lehman Brothers in the United States, the market was the lowest in September 2008 1802.33, and the next day, "the three major rescues were good", and A, B shares, funds and warrants all had daily limit;
On September 25th, 2008, 40.8 million A-shares of Huachang Chemical landed in Shenzhen SME board. The market peaked at 2333.28 points that day, and then rose by 3.64% to close at 2297.50 points. On June 8, 2009, the market rose 1.56% to close at 2853.90 points, with a peak of 2855.42 points. June 28, 2008 1664.93 was the lowest in the market. After the IPO was suspended, the biggest market decline was 632.57 points or 27.53%, which was 137.40 points or 7.62% lower than the previous low, and the biggest increase was 1 190.49 points.
The seventh restart: still in progress ......
IPO suspension time: 201211016 ~
Since August 2009, A-shares and B-shares have been falling all the way, becoming the worst performing market among major economies for three consecutive years. However, in the economic crisis, European and American stock markets hit record highs. However, the China stock market continued to soften until February 20 12, when it fell below 2000 points and fell to 1949. Before liberation, IPO was forced to suspend before it began to rebound.