What is the winning of new shares?

The winning rate is just like the winning rate in the lottery. Because there are many people applying for new shares and a lot of money, but the number of issues is limited, it is impossible to have all of them. Because the subscription is based on every 65,438+0,000 shares as a subscription unit, and a subscription number is obtained. Then, a lottery number will be drawn and investors will compare the numbers. Some of them will win the lottery, others will miss it. Based on the issuable amount/total subscription amount, the winning rate of new share issuance is obtained. The lower the winning percentage, the less likely it is to win.

On T+2, the lead underwriter announced the winning rate and organized the lottery according to the total allocated quantity and winning rate. China Clearing Shanghai Branch conducts the subscription and liquidation of new shares according to the lottery results, and sends the lottery data to all settlement participants who participate in the subscription after the market closes on the same day, and announces the lottery results the next day.