What do you mean the stock is new?

Playing new means using funds to participate in the subscription of new shares. If you win the lottery, you will buy the upcoming shares. Only offline organizations can purchase, and I can purchase online. Playing new shares is divided into playing new shares and playing new funds.

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 "×××××".

The subscription procedure is as follows:

Apply for purchase

XX shares will be issued in 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.

Matching number

On the second day after the subscription date (T+ 1), the Shanghai Stock Exchange will issue new shares according to the total 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. The matching numbers are all lottery numbers, and investors 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.

Win the lottery

The winning rate will be announced on the third day (T+2) after the purchase date, and the winning result will be confirmed by the lead underwriter according to the total allocation number. The winning result will be announced in the designated media on the first trading day (T+3) after the lottery. Each winning number can subscribe for 1000 new shares.

Unfreeze funds

On the fourth day (T+3) after the subscription date, unfreeze the unsuccessful subscription. 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 offerings and the number of offline offerings according to the subscription situation, and finally determine the share allocation to institutional investors and public investors.