Proportional placement, the biggest difference from the previous fund issuance method is that investors can no longer queue up when subscribing for new funds. All valid subscription applications can be confirmed as long as the fund raising scale does not exceed the prescribed fundraising limit. If the scale limit is exceeded, the customer's subscription application will be confirmed in proportion, which means that the amount subscribed by the investor can only be partially completed.

For example, a fund sets the upper limit of the issuance scale not to exceed 654.38+000 billion yuan. If the subscription amount (excluding interest) exceeds the upper limit of 654.38 billion, the customer's subscription application will be confirmed in proportion (regardless of the subscription order), and the confirmation ratio is:

Proportion of placing = 654.38+RMB 000 billion/total amount of valid subscription applications during the raising period.

Confirmation amount of investor's subscription application = effective subscription application amount submitted during the raising period × placement ratio.

If the maximum size of the issued fund is 65.438+0 billion, and the total amount of investors' final subscription application is 20 billion, then the proportion of each investor confirming the transaction is 50%, that is, buying the fund with half of the original subscription amount.