How to calculate the winning of new shares?
Because there are many people who subscribe for new shares and have a lot of money, but the number of shares issued is limited, it is impossible to have all of them. Because the subscription is based on every 1000 shares, every 1000 shares as a subscription unit will get a subscription number, and then a lottery will be drawn. Investors will compare the numbers, some will win and some will not win. 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.