How much did the subscription card of 1993 cost in the end?
The first is the emergence of subscription card model.
1In April, 1993, the State Council issued the Interim Regulations on the Administration of Stock Issuance and Trading, which solemnly stated that in principle, the subscription certificate must be purchased first, then the lottery is drawn, and then the successful bidder will purchase the new shares. Then, the China Securities Regulatory Commission issued the Opinions on the Measures for the Issuance and Subscription of 1993 Stock, which made specific arrangements for the issuance of stock subscription cards, stipulating that each subscription card can only be used once, and the fee is limited to the printing and sales cost, and each subscription card does not exceed 2 yuan. A listed company that issues public shares in the form of an unlimited application form.
Second, the issue story of stock subscription certificate.
The stock subscription certificate was issued in Shanghai on June 1992 65438+ 10/0, each 30 yuan. At that time, people didn't know what this cardboard would bring, and employees of post offices and banks were often worried about whether this subscription card could be sold for 30 yuan (the income at that time was not small in 30 yuan). In order to complete the task, many leaders of large state-owned enterprises and employees in banks and post offices were examined (of course, there is another version circulating in the market. At the meeting, the presidents of bank branches in Shanghai's top ten districts were all hinted that subscription cards could bring benefits, so they dared to mobilize bank insiders to buy them. Paper, as we all know, when they wake up, the subscription card lottery has ended. They can subscribe for shares. So the subscription card price soared, and the highest price on the black market also rose to 8000 yuan. After listing, the profit will reach 1 to 30,000 yuan. This is an increase of 10000%.
Stock subscription card is the right to grant the warrant holder the right to buy relevant stocks at the exercise price within a specific period of time. Stock subscription certificate is the main way to issue shares in the early stage of the development of China stock market, which fully embodies the principles of openness, fairness and justice in the issuance of new shares at that time. Because of the high cost and long cycle, it was replaced by paperless distribution. At that time, stock subscription certificate and entity stock were the epitome of China stock market. Stock subscription certificate includes: subscription certificate, subscription application form, withdrawal slip, number slip, time deposit certificate, prepayment certificate, etc.