The basic process of issuing new shares:
T-2 Day: Investors need to ensure that there are securities corresponding to the market in their securities accounts, with a market value of at least 65,438+00,000 yuan.
T- 1 day: China Clearing Shanghai Branch will send the T-2 market value and account group corresponding data held by the account included in the online subscription limit calculation to the Shanghai Stock Exchange.
T Day: Investor Subscription: According to the market value data held by investors, investors can subscribe through their securities companies within the subscription time, and subscribe at the issue price stipulated in the issuer's issuance announcement (the account must be fully funded).
T+ 1: fund freezing, capital verification and serial number: China Clearing Company will freeze the subscription funds. According to the final effective subscription amount, the exchange assigns a number to every 65,438+0,000 shares (500 shares in Shenzhen), and the trading host automatically assigns a unified and continuous number to the effective subscription. (Note: Generally, only an initial allocation number and an effective allocation number are displayed when querying on the securities trading system. )
T+2 day: lottery, lottery processing: the lead underwriter announces the lottery winning rate and organizes lottery winning according to the total allocated quantity and lottery winning rate. China Clearing Shanghai Branch conducts lottery clearing for the subscription of new shares according to the lottery winning results, and sends lottery winning data to all settlement participants participating in the subscription after the market closes on the same day, and announces the lottery winning results on the next day.
T+3: Funds unfreezing: After the winning result is announced, China Clearing Shanghai Branch unfreezes the subscription funds for new shares and deducts the subscription funds for new shares from the settlement accounts of clearing participants. At the same time, China Clearing Shanghai Branch completed the share registration of shareholders who issued new shares online.