1. Because the subscription funds of new shares generally far exceed the funds planned by newly listed companies, it is necessary to randomly allocate shares among all subscription funds to ensure the fairness of subscription.
2. The Shanghai Stock Exchange stipulates that the subscription unit is 1 1,000 shares, and the subscription number of each account is not less than 1 1,000 shares, and the number exceeding 1 1,000 shares must be an integer multiple of 1 1,000 shares; The Shenzhen Stock Exchange stipulates that the subscription unit is 500 shares, and the subscription number of each account is not less than 500 shares. The number of shares exceeding 500 must be an integer multiple of 500 shares.
3. Each valid subscription unit corresponds to a distribution number. The winning number (that is, the winning applicant) is determined by random allocation. Then the ratio of winning units to the total number of effective units participating in the subscription is the winning rate of this subscription.
1. Calculate the winning rate of new shares according to the number of shares issued and the number of valid subscriptions. Specifically, there are two situations:
1. When the effective subscription number of investors is less than or equal to the number of shares issued, investors can usually subscribe according to the effective subscription number of each place, and the balance will be underwritten by the underwriter;
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. The formula for calculating the winning rate is: winning rate = (number of issued shares/number of effectively subscribed shares) * 100%.
3. The high winning rate represents the number of shares purchased by a unit, and the winning probability is high.
Second, the winning rate of new shares is related to the general trend. When the market is good, most new shares are listed at high prices, and there is basically no loss. So at this time, there are a lot of funds to play new shares, which makes the winning rate very low, and the highest winning rate does not exceed 1%. Most of them are around 0, 4. However, when the market is bad, new shares are frequently broken, resulting in long-term losses for the winners, and the enthusiasm for playing new shares is gone. There are fewer people playing new shares. The natural winning rate will be high. Even as high as 65% of the time, they basically won the lottery when they bought it, but because most of the stocks are falling at this time, winning the lottery means losing money. Therefore, we must distinguish the timing of playing new shares, or we will lose money if we win the lottery.