Basic process:
1, t-day: investors subscribe: XX shares will be issued on the SSE on June 1 day at the issue price of 5 yuan/share. From 9:30 am to 1 1:30 am or from 0:00 pm to 3:00 pm, you can use this 500,000 yuan to purchase up to 654.38+10,000 shares of XX through the entrustment system. The funds participating in the subscription will be frozen.
2. Matching number: On the second day after the subscription date (T+ 1), the SSE will allocate new shares according to the total effective subscription amount, and the Exchange will automatically unify the effective subscription numbers of continuous matching according to the rule that every 1000 shares (500 shares in Shenzhen Stock Exchange) are allocated a number according to the final effective subscription amount.
(1) If the subscription quantity is greater than the online circulation, the effective subscription winning numbers will be determined by drawing lots, and each winning number will subscribe for a new subscription unit share. Subscriptions often exceed circulation.
(2) If the effective subscription amount is less than or equal to the online circulation, there is no need to draw lots, and the matching numbers are all lottery numbers. Investors subscribe for shares according to the effective subscription amount;
3. Lottery: The lottery rate will be announced on the third day (T+2) after the subscription date, and the lead underwriter will preside over the lottery to confirm the lottery results, and the lottery results will be announced in the designated media on the first trading day (T+3) after the lottery. You can also organize the lottery according to the total score quota and the winning rate. China Clearing Shanghai Branch will settle the subscription of new shares according to the lottery results, and each lottery can subscribe for 650 shares.
4. Funds unfreeze: On the fourth day after the subscription date (T+3), funds unfreeze: unfreeze the unsuccessful subscription money. After the lottery results are announced, China Clearing Shanghai Branch unfreezes the subscription funds for new shares and deducts the subscription funds from the fund settlement accounts of clearing participants. At the same time, China Clearing Shanghai Branch completed the share registration of shareholders who issued new shares online. Investors should also note that the issuer can adjust the number of online offerings and offline offerings according to the subscription situation, and finally determine the share allocation for institutional investors and public investors.