How to subscribe for new shares
1, new share subscription process:
(1) Investor subscription (subscription date): The investor shall pay the subscription money in full within the subscription time and entrust the subscription.
(2) 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 Exchange will automatically assign a number to the valid subscription according to the rule of assigning a number to every 65,438+0,000 shares (500 shares in Shenzhen Stock Exchange).
(4) Lottery (the third day after purchase): announce the winning rate, organize a lottery according to the total number of people and the winning rate, and announce the winning results the next day.
(5) Announce the winning number and unfreeze the funds (the fourth day after the subscription): unfreeze the unsuccessful subscription.
Note: Except for individual new shares in the above process (please read the prospectus carefully when issuing new shares).
2. The process of raising funds to issue new shares:
The procedures of fund subscription and online pricing issued by the two exchanges are basically the same. On the day of subscription, investors should pay the subscription money in full according to the issue price and effective subscription quantity stipulated in the issuer's issuance announcement, and make subscription entrustment. If the subscription amount paid by investors is insufficient, the securities trading outlets shall not accept the relevant subscription entrustment. Suppose Zhang San has 500,000 cash in his account, and he wants to participate in the subscription of new shares called "×××××".
3. The subscription procedure is as follows:
The subscription of 1.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 participating in the subscription will be frozen.
2. On the second day after the subscription date (T+2), the SSE will issue new shares according to the effective subscription amount: (1) If the effective subscription amount is less than or equal to the online circulation, there is no need to draw lots, all matching numbers are lottery numbers, and investors will subscribe for shares according to the effective subscription amount; (2) If the number of subscriptions is greater than the online circulation, the effective subscription winning numbers shall be determined by drawing lots, and each winning number shall subscribe for a new subscription unit share. Subscriptions often exceed circulation.
3. The winning rate will be announced on the third day (T+3) after the lottery subscription date. According to the general allocation number, the lead underwriter will preside over the lottery to confirm the winning result, and the winning result will be announced in the designated media on the first trading day (T+4 days) after the lottery. Each winning number can subscribe for 1000 new shares.
4. Unfreeze funds (Note: Shenzhen is now T+3). Announce the winning number on the fourth day (T+4) after the purchase date, and unfreeze the unsuccessful part of the purchase. 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, all 500 thousand will be returned. 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 institutional investors and public investors.