According to the Company Law, the number of shareholders of a public company holding no less than 65,438+0,000 shares is required to be 65,438+0,000 shares (referred to as "1,000-person shares" for short), and the minimum subscription number per unit of China IPO is set to be 65,438+0,000 shares, or 65,438+0,000 shares. Shenzhen stock market is an integer multiple of 500 new shares or 500 shares. After the subscription of new shares is completed, the lead underwriter will confirm the effective subscription quantity, and then calculate the winning rate of new shares according to the number of issued shares and the effective subscription quantity.
Specifically, there are two situations:
(l) When the number of effective subscriptions of investors is less than or equal to the number of shares issued, investors can usually subscribe according to the number of effective subscriptions in various places, and the balance will be underwritten by underwriters;
(2) When the number of effective subscriptions of investors is greater than the number of issuance, the host or lead underwriter of the exchange will determine a declaration number for every 65,438+0,000 effective subscriptions, arrange them in turn, and then draw lots to determine the winning number. Each winning subscription number can subscribe for 65,438+0,000 shares.
Winning rate = (number of issued shares/number of valid subscribed shares) x 100%
What is the winning rate of new shares?
The winning rate of new shares is generally around 30/10000, or lower. For different new shares, when the subscription funds reach a certain amount, the winning rate will be guaranteed.