On December 27, Weibo hydraulic, the first new stock after the opening of the Beijing stock exchange, announced the subscription results.
the proportion of subscription and allocation of new shares is 0.04%, which refreshes the previous low proportion of allocation of new shares of selected layers. This winning rate also means that if investors want to ensure at least 100 shares, they must ensure that there is at least 2.4 million yuan of cash in the account for subscription. Even if investors freeze the top grid subscription of 3.9 million yuan, they can only be allocated 200 shares at most.
Weibo hydraulic has about 750000 subscribers, a new high, which also exceeded the previous forecasts of many analysts.
750000 fewer subscribers?
Weibo hydraulic is the first new share after the opening of the Beijing stock exchange and the first new share after the investor threshold of the Beijing stock exchange was reduced to 500000 yuan. By the time of subscription, the number of investors in the Beijing stock exchange had expanded to 4.6 million. Of the 4.6 million investors, only 750000 participated in the subscription. Is the number a little small? The Beijing stock exchange and the science and innovation board are both at the threshold of 500000 yuan, but the number of new share subscribers on the science and innovation board is more than 5 million.
Compared with the scientific innovation board, this data must be relatively small. "Kechuang board is a market value subscription. The Beijing stock exchange needs cash. Some investors may not have so much cash, so they did not participate in the subscription." Zhou Yunnan, a senior investor in the new third board, told reporters.
Compared with the previous new share subscription data of the Beijing stock exchange, 750000 subscribers have refreshed history. The subscription of the first 32 new shares of the Beijing stock exchange (selection layer) was crazy, with about 400 billion yuan of new funds. At that time, the online subscribers of Yingtai biology reached 540000, which was the largest number of new shares of the Beijing stock exchange (selection layer).
however, since the 33rd new share, the number of subscribers of new shares on the Beijing stock exchange (selected layer) has dropped sharply to only tens of thousands. The number of subscribers of some new shares is even only 30000 or 40000. A person from the new third board told reporters that this is mainly related to the market performance after the listing of the first 32 new shares. The market is less than expected, resulting in a decrease in market sentiment.
Later, the first 10 new shares of the Beijing stock exchange were listed, and the number of investors participating in the subscription of new shares rebounded, around 100000, up to 200000. Compared with history, 750000 subscribers are enough.
From the relative data, Weibo hydraulic is also relatively high in terms of the proportion of the number of investors participating in the subscription of new shares in the total number of qualified investors. Of the 4.6 million qualified investors, 750000 participated in the subscription, accounting for 16.3%. This data accounts for no more than 10% of the subscription of the first batch of new shares of the Beijing stock exchange.
Shenwan Hongyuan Group Co.Ltd(000166) Liu Jing, chief analyst of the new third board team, once predicted that the online single family top grid purchase threshold is low. Considering the improvement of market expansion and innovation degree, assuming that 10% - 12% of qualified investors participate in the online issuance, it is expected that there are 46-552000 effective online purchase households. The actual situation has exceeded expectations.
The proportion of 0.04% is not low
Some analysts expect the distribution proportion of Weibo hydraulic to be 0.078% - 0094%, and the actual distribution proportion is 0.04%, lower than expected.
judging from the 82 stocks on the Beijing stock exchange, the allocation proportion of 0.04% has also set a record low. Previously, Yongshun biology had a low proportion, with a proportion of 0.0432%.
Zhou Yunnan said that the allocation ratio was lower than market expectations and hit a new low since the establishment of the selection layer, indicating that investors are actively optimistic about the new opportunities of the Beijing stock exchange, which will also stimulate the secondary market of the Beijing stock exchange.
The reporter noted that according to the placement proportion of 0.04%, if investors want to ensure at least 100 shares, they need to purchase at least 250000 shares. Correspondingly, investors need to guarantee at least 2.42 million yuan of subscription cash in their accounts.
"The threshold of more than 2.4 million cash is still relatively high. Not many investors can take it out at once, so it is still difficult to win 100 shares. This subscription has frozen the amount of funds of 180 billion yuan, and 750000 households participated. In fact, the per capita is only 240000 yuan." A new third board investor told reporters.
Weibo hydraulic was allocated 8.05 million shares online this time, and 64000 households were allocated online. After calculation, 126 shares were allocated per capita.
"This is easy to understand. The number of shares allocated to this subscription is less than 100 shares and more than 200 shares. 200 shares is the most. It is impossible to allocate more than 200 shares this time. The average number of shares allocated must be more than 100 shares." Zhou Yunnan said.
The reporter noted that if you want to win 100 shares in this subscription, you need to subscribe for at least 250000 shares, while the number of top grid subscription shares this time is 402700 shares. If the investor applies for purchase according to the top grid, the theoretical number of allocated shares is 161 shares. As the number of allocated shares must be an integral multiple of 100, top grid subscribers can be allocated 200 shares either at the front of time or at the back of time. In extreme cases, they can only allocate 100 shares.
what has changed the subscription rules of Beijing stock exchange
Weibo hydraulic is the first new share after the implementation of the new rules of the Beijing stock exchange. Compared with the new rules of selective layering before, there has been a realization in the distribution rules of new shares of Beijing stock exchange. Specifically, the distribution of new shares in the first round is proportional. However, in the second round, the Beijing stock exchange gives priority to the purchase quantity first, and the time with the same quantity gives priority; Previously, the selected layer was allocated according to time priority.
This is conducive to attracting more investors with financial strength to participate in the online subscription of new shares of the Beijing stock exchange. On the other hand, the previously selected investors scrambled for time to apply for the purchase. As long as the hand speed is fast enough, even if they apply for 100 shares, they probably won the lot no longer. In other words, the Beijing stock exchange said goodbye to the "first-hand party".
This situation can be shown from the proportion of allocated households in the number of subscription households. 750000 people applied for Weibo hydraulic and 64000 people were allocated shares, accounting for 8.5%. That is, 8.5% of the subscribers can be allocated shares. Previously, the number of allocated households in the selected layer was much scattered, and many or even nearly 80% of the subscribers had allocated shares.
The data show that there are several stocks in the selection layer, and more than 50% of the online subscribers can win at least 100 shares, and the highest 76% of the online subscribers have won at least 100 shares.
New results of the first share of the registration system of the Beijing stock exchange were announced
Hundreds of thousands of new ones are "lonely"! The first new shares of the Beijing stock exchange are too hot, and the winning rate is as low as 0.04%!
(brokerage China)
