Purchase process
(1) Investor subscription (subscription date): The investor pays the subscription money in full at the time of subscription, and carries out subscription entrustment.
⑵ Freezing of funds (the first day after subscription): China Clearing Company will freeze the subscription funds.
(3) Capital verification and numbering (the day after subscription): The business department automatically assigns a number to the effective subscription according to the final total usable subscription amount and the rule of assigning a number to every 1000 shares (500 shares in Shenzhen Stock Exchange).
(4) Lottery (the third day after purchase): release the winning rate, organize the lottery according to the total number of people and the winning rate, and release the winning rate the next day.
(5) Release the winning number and unfreeze the funds (the fourth day after the subscription): unfreeze the unsuccessful subscription.
Basic steps
The procedures of fund subscription and online pricing announced by the two markets are basically the same. On the day of subscription, investors should pay the subscription amount in full according to the requirements of the issuer's announcement and the effective subscription quantity, and make subscription entrustment.
Suppose Zhang San has 500,000 cash in his account, and he wants to participate in the subscription of new shares called "×××××". Subscription method is as follows:
1, subscribe
XX shares will be issued on the 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. The funds involved in the subscription will be frozen.
Step 2 match the number
On the second day after the subscription date (T+2), the Shanghai Stock Exchange will issue new shares according to the total subscription amount:
(1) If the effective subscription amount is less than or equal to the amount published online, 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 subscription quantity is greater than the online issuance quantity, the useful subscription winning numbers are determined by drawing lots, and each winning number subscribes for a new subscription unit. Subscriptions often exceed the number of publications in the city.
Step 3 win the lottery
The winning rate will be released on the third day (T+3) after the purchase date, and the lead underwriter will preside over the lottery according to the total allocation number to confirm the winning effect of this lottery. The winning number will be released in the designated media on the first working day (T+4) after the lottery. Each winning number can subscribe for 1000 new shares.
4. Unfreeze funds
On the fourth day after the subscription date (T+4), the winning number will be released, and the subscription money that has not been won will be unfrozen. 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, 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 online subscribers and offline subscribers.
Subscription method of issuing new shares online
If the subscription funds for new shares are unsuccessful, they will be unfrozen on the fourth day after the subscription date. The specific purchase process is as follows:
Before subscribing for new shares, you should hold a shareholder code card to open an account in a securities company and deposit the full subscription funds;
On the day of subscription (T day), investors entrust to buy shares at the issue price, and the securities firm freezes the investor's deposit in full;
On the first day after the subscription date (T+ 1), the subscription funds are frozen in the subscription account of the designated clearing bank;
On the second day after the subscription date (T+2), the clearing company will cooperate with the lead underwriter and accounting firm to check the subscription funds. The computer system automatically carries out continuous numbering, and each 1000 shares has a subscription number, and transmits the subscription number to all brokers after the market closes on the same day, and then publishes the winning rate (winning rate = stock circulation/useful subscription amount *100%);
On the third day (T+3) after the subscription date, investors can check the subscription number at the brokerage firm during the business period. On the same day, the lead underwriter organized a lottery to announce the winning effect. The business hall carries out liquidation, delivery and shareholder registration according to the lottery effect; According to the data, brokers will return unsuccessful subscriptions to investors. The unsuccessful money subscribed by investors can only be used within one working day (T+4).
On the fourth day (T+4) after the subscription date, the business department unfreezes the unsuccessful subscription money and returns the unsuccessful subscription money to the broker.