Look at its issuance, that is, look at the acquisition.

The establishment of a joint stock limited company can be initiated or raised. Initiation refers to the establishment of a company by the sponsors who subscribe for all the shares that should be issued. The establishment by public offering means that the promoters subscribe for part of the shares that should be issued by the company, and the rest of the shares are publicly offered to the public to establish the company. Since the shares subscribed by the promoters cannot be transferred within three years, the so-called "original shares" sold in the society usually refer to the shares publicly offered to the public when a joint stock limited company is established.

Look at its transfer, which is subscription.

The shares held by the promoters of the company are registered shares and may not be transferred within three years from the date of establishment of the company. After three years, the transfer shall be made in the designated stock exchange, and the transfer shall be made by the shareholders by endorsement or by other means stipulated by laws and administrative regulations. The shares issued to the public can be registered shares or bearer shares. The transfer of bearer shares must be carried out at a legally established stock exchange. At present, some illegal equity transactions are mostly carried out in the name of investment consulting companies, and investment consulting institutions are not qualified to buy and sell equity as agents.

The probability of successful subscription is really not high.

It should also be noted that the shares subscribed by a joint stock limited company can be subscribed at face value or at a premium, but they are generally subscribed at face value. Once circulated, they can bring huge profits to the original shareholders. Therefore, the "original shares" have become the "mask" of illegal and criminal acts of securities and futures in the market, and investors still need to remain awake to the "original shares"