Shanghai and Shenzhen stock markets are calculated separately. The Shanghai Stock Exchange can subscribe for 1 10,000 shares, with a market value of 1 10,000 yuan, and the part less than 1 10,000 yuan is not included in the subscription quota. Shenzhen can subscribe for 500 shares, with a market value of 5,000 yuan, and the part less than 5,000 yuan is not included in the subscription amount.

The amount of new shares is the daily average share of A shares held in the 20 trading days before t-2. For example, only one day in the first 20 trading days has a market value of 200,000 yuan, and the other days are zero. Then the average daily share of A shares held in these 20 trading days is 1 10,000 yuan, so you can buy 1 10,000 shares in the Shanghai Stock Exchange and 500 shares in the Shenzhen Stock Exchange.

Extended data:

Precautions for subscription of new shares:

First of all, we should understand and master the specific provisions in the new method and pay attention to the issuance process of online pricing.

For example, the "Measures" clarify that fund subscription follows the principle of "once declared, it is not allowed to withdraw the order". Investors can use their securities accounts to buy new shares issued by the exchange on the subscription date. Except for securities accounts stipulated by laws and regulations, each securities account can only be purchased once. Repeated subscriptions are automatically eliminated by the exchange trading system except for the first subscription, and all subscriptions with false funds are regarded as invalid subscriptions. The Shanghai Stock Exchange stipulates that each subscription unit is 65,438+0,000 shares, and the number of subscriptions is not less than 65,438+0,000 shares. More than 65,438+0,000 shares must be an integer multiple of 65,438+0,000 shares. The specific subscription time is 9: 30 am-165438+0: 30 pm, 1: 00- 3: 00 pm on T, and so on.

Secondly, we should pay attention to the related risks in the primary market. With the introduction of the marketization of new share issuance, it will become history to invest in new shares without risk and loss. Under the new distribution system, the marketization factor will be more obvious. Therefore, investors should pay attention to the research on the fundamentals of listed companies and pay attention to the R&D reports of some relevant institutions in order to avoid the risks in the primary market.

Thirdly, we should learn to "juggle" and change the stock selection ideas and investment strategies in the past. With the launch of the new policy of issuing new shares, the investment ideas of the market will undergo fundamental changes. That is, from the pursuit of sitting in the village to value investment, paying attention to the fundamentals of listed companies and studying the fundamentals will be accepted and respected by the market.

For example, investors who are accustomed to "innovation" in the primary market will take the initiative to pay attention to those blue-chip companies with low risk, stable performance and high returns after entering the secondary market because of winning the bid, thus guiding the secondary investors in the whole market to return to rationality and changing the stock selection idea of "emphasizing technology over fundamentals".

In addition, with the approach of IPO, people from all walks of life on one side of the market begin to adjust their position structure, and institutions will make money from stocks with large cumulative gains on hand and less potential in the expected market outlook to make room for the New Year.

On the other hand, institutional investors have strong expectations that new high-quality listed companies may be brought about by the issuance of new shares, so the listing of new shares with better quality will undoubtedly have a "crowding out" effect on similar stocks already held by institutions, thus putting pressure on the share prices of such stocks. As the issue date of new shares approaches, investors should pay attention to avoid such risks.

References:

Baidu encyclopedia-subscription of new shares