The era of “making new and stable profits” seems to be over.
Recently, data show that the number of new shares broken in the first four months of this year has exceeded that of last year, so that many investors who won the new lot no longer dare to “close their eyes” as before, but began to consider abandoning the purchase at the “last minute”
in this context, some securities companies have sent short messages to customers that “do not abandon shares after winning the lottery of new shares”, which has attracted a lot of hot discussion among investors
“no abandonment of shares after winning the lottery of new shares” caused controversy
On April 14, a text message circulated on the Internet showed that a securities firm sent a text message to the customer saying “if your new shares have won the lottery and the account funds are sufficient, the securities company will freeze the funds in accordance with the national regulations and shall not abandon the shares”
subsequently, relevant news quickly became the focus of discussion among investors p align = “center” hot discussion among investors
For the relevant disputes, Caitong Securities Co.Ltd(601108) responded that the message was a risk prompt message sent by a business department to customers (only for customers of the business department), with limited impact. The main starting point was to give customers a risk prompt before the purchase of new shares, so as to avoid causing their own asset losses. The complete content of the last sentence of the screenshot is: I hereby remind the shareholders to make their own risk judgment before the subscription of new shares, whether it is in line with their own investment values, and apply carefully to avoid the loss of their own assets
However, Caitong Securities Co.Ltd(601108) also said that the wording and expression of some contents in SMS are not rigorous and complete. He also said that he would explain to customers, educate investors, protect the legitimate rights of investors, and further strengthen internal management
it is worth noting that the relevant provisions do mention the obligation of fund delivery after winning the lot, even including the consequences of insufficient payment after winning the lot for many times
If the investor wins the lottery in the subscription of new shares, he shall perform the obligation of capital settlement according to the results of the lottery. If the subscription fund is insufficient, the investor shall bear the consequences and legal liabilities by himself; When offline and online investors apply for new shares, convertible corporate bonds and exchangeable corporate bonds, they shall pay the subscription funds in full and on time; If online investors fail to pay in full after winning the lottery three times in a row within 12 months, they shall not participate in the subscription of new shares, convertible corporate bonds and exchangeable corporate bonds within 6 months.
Just a few years ago, it was hard to imagine that these regulations would have a “place to use” in the A-share market. Due to the relatively conservative issuance price of new shares in the past, there was a high probability of rising after the listing of new shares. Therefore, in the view of many investors at that time, Daxin was a “steady profit without loss” business, and there were few cases of active abandonment of purchase.
Some legal sources pointed out that the relevant provisions have given the legal consequences that investors should bear when abandoning the purchase, which means that if investors accept this cost and price, it is actually reasonable and legal to abandon the purchase. In the view of some market participants, investors may have to consider fully in the subscription stage of new shares. If they are not optimistic about a new share day, it is suggested not to apply as much as possible, which can avoid many follow-up problems.
new difficulties in “eating meat” lead to new problems
It has to be said that with the further marketization of new share issuance in recent years, reports of “sky high price issuance” have begun to be exposed from time to time, and the news of new share issuance has become more and more common.
according to Xinhuanetco.Ltd(603888) reports, of the nearly 100 new shares listed this year, 60 have broken or broken in the session, accounting for more than 60%, setting a new high in the proportion of breaking in the past decade
As of April 14, 9 of the 11 new shares listed in April had broken (the latest closing price compared with the issue price), accounting for more than 81%. Among them, the latest price of Aojie technology listed at the beginning of the year is more than 60% lower than the issuance price, which is the stock with the highest breaking range within three months of listing in more than 20 years.
however, the proportion of investors who choose to abandon the purchase after winning the lottery has also increased in recent years due to the increasing breaking rate of new shares after listing
Data show that in 2022, the underwriting proportion of 22 new shares exceeded 1%, while in the previous 10 years, the number of similar situations was less than double digits.
Make complaints about the slide show that N, which has been purchased for more than 400 thousand shares, has been sold out for 12 yuan in the past few hundred dollars, and Tucao has “not even left a share of the original account” after the announcement of the .
similar to the situation of N anda, the situation that some new investors want to abandon their purchase but are “frozen in advance” funds has also begun to attract more and more attention
Last week, the first day of listing of new shares of Puyuan Jingdian fell by 34.66%, which was called “the worst new share in history” by netizens. Subsequently, investors said that their intention was to abandon the purchase. As a result, the funds were frozen in advance, so that they lost money after the passive payment was broken.
In this regard, some analysts also pointed out that the “early freezing of capital” service of some securities companies has long existed. In the past, when the new business was still a “steady profit without loss”, some investors missed the deduction after winning the lottery for various reasons, resulting in the loss of missing meat tags, which led to the emergence of this service.
If there is a discussion on whether investors can claim for compensation in advance due to stable issuance of new shares, or even if there is no significance to claim for compensation in case of failure to make compensation in advance due to the analysis of whether investors can make compensation in the case of stable issuance of new shares.
