Gem digital currency IPO
at present, there are two requirements for new share subscription: first, sufficient available funds; second, prepare the corresponding market value. That is to say, if you want to buy new shares in Shanghai, set the subscription day as t day. The average market value of a shares in the account on T-2 day and 20 trading days before T-2 day should be greater than or equal to 10000 yuan. For every 10000 yuan market value, you can get one subscription unit, and one subscription unit can subscribe to 1000 new shares in Shanghai. In Shenzhen, like other rules in Shanghai, there is only one difference: Shenzhen stock with a market value of 5000 can obtain one subscription unit, and one subscription unit can purchase 500 Shenzhen new shares. Shenzhen's market value also needs more than 10000 to apply for< The process of new share subscription is as follows:
1. On the T-day, investors should prepare sufficient funds to apply for new shares through securities accounts, and purchase entrustment (the same as the menu of buying shares). The number of Shanghai stock market shares should be an integral multiple of 1000 shares, and Shenzhen stock market shares should be an integral multiple of 500 shares. If the amount exceeds the limit of subscription, the order will be cancelled. If multiple delegation, only the first delegation is valid. The application time of Shanghai stock market is 9:30-11:30 on t day; 13:00-15:00 Shenzhen's subscription time is 9:15-11:30 on t day; 13:00-15:00
2. T + 1 day: fund freezing, capital verification and allocation. CSDCC will freeze the subscription funds. According to the final total amount of effective subscription, the exchange will assign a number for every 1000 (500 shares in Shenzhen) shares, and the trading host will automatically assign a unified and continuous number for the effective subscription
3. T + 2 day: lottery. Announce the winning rate, organize lottery according to the total number and winning rate, and announce the winning result the next day
4. On T + 3 days (usually after t + 2 days of liquidation), you can check whether you have won the lottery. If you have not won the lottery, you will return the money to the account. The winning customers can trade the winning shares on the IPO date.
the method of market value allotment for new share subscription is as follows:
1. If the average daily holding market value of 20 trading days before T-2 (including T-2) is more than 10000 yuan (t day is the subscription day), you can participate in the subscription of new shares
2. The market value of Shanghai and Shenzhen is calculated separately: for every 10000 yuan of the market value of Shanghai stock market, one unit can be purchased, and the part less than 10000 yuan is not included in the purchase quota. Each unit is 1000 shares, and the purchase quantity should be 1000 shares or its integral multiples, but the maximum number should not exceed one thousandth of the number of shares initially issued online, and should not exceed 99.999 million shares. Shenzhen stock market can apply for a unit with a market value of 5000 yuan, and the market value less than 5000 yuan is not included in the amount of application. Each application unit is 500 shares, and the number of application should be 500 shares or its integral multiple, but the maximum number should not exceed one thousandth of the number of shares initially issued online at that time, and should not exceed 9999500 shares
3. Investors can only use one securities account to participate in the purchase of online public offerings. If the same investor uses multiple securities accounts to participate in the purchase of the same new shares, or if the investor uses the same securities account to participate in the purchase of the same new shares for many times, the first purchase of the investor shall be regarded as effective purchase, and the rest of the purchase shall be invalid purchase.
At present, the first day of A-share IPO in Shanghai stock market, Shenzhen stock market and growth enterprise market all have the same limit
there are two levels of price limit, 20% at a time. Since then, the price limit has not been changed
according to the current situation of new shares:
for example, if the IPO price of a new share is 10 yuan, according to the 20% limit, the opening price will be 12 yuan, or 20%, and then the trading will be suspended for 30 minutes; 30 minutes later, that is, from 10 o'clock, there will be another 20% second stop at 14.4 yuan, which means that the overall increase will be two 20% and the cumulative increase will be 44%
the same is true for the decline setting, but at present, the situation stops in seconds, and there is no decline
extended data
the fluctuation limit refers to the fluctuation range of the stock exchange's daily trading price on the basis of the closing price of the previous trading day in order to restrain excessive speculation and prevent excessive sharp rise and fall in the market. The maximum price for the stock price to rise to the limit is the up limit, while the minimum price for the stock price to fall to the limit is the down limit
The price limit is a measure to stabilize the market. Overseas financial markets also have market breaking measures and suspension of trading, speed limit trading, special quotation system, application quotation and transaction price range restrictions, adjustment by experts or market intermediaries, and adjustment of trading margin ratio. China's futures market is commonly used to limit the rise and fall, suspend trading and adjust the trading margin ratio of three measures But generally, the stock is not limited by the range of rise and fall in the following cases:1. The first day of IPO (the price shall not be higher than 144% of the issue price and lower than 64% of the issue price)
2. The share reform of the stock (beginning with s, but not st) is completed, and the first day of resumption of trading is
3. The first day of issuance of additional shares is
4, On the day when the stocks are listed, on the day when the stocks of some major asset restructuring such as merger are resumed, on the day when the stocks of delisted stocks are resumed
the issuance of new shares is based on the company's own needs and meets certain conditions, which has nothing to do with the board
the growth enterprise market, also known as the second board market, is a kind of securities market different from the main board market. It is designed to provide financing channels and growth space for enterprises that need financing and development, such as entrepreneurial enterprises, small and medium-sized enterprises and high-tech instrial enterprises that can not be listed on the main board for the time being, It is an important supplement to the main board market and plays an important role in the capital market. The market code of gem in China starts with 300
compared with the main board market, the listing requirements of gem are often more relaxed, which are mainly reflected in the requirements of establishment time, capital scale, medium and long-term performance, etc. As most of the emerging second board listed companies tend to be entrepreneurial enterprises, it is also called gem. The biggest characteristic of gem is low entry threshold and strict operation requirements, which is helpful for potential SMEs to obtain financing opportunities.