2. In this way, the right to subscribe for new shares was obtained at the expense of holding shares, which won investment opportunities that most other investors did not have. According to the Measures for the Administration of Securities Issuance and Underwriting recently revised by the CSRC, if the number of initial public offerings is more than 400 million shares, strategic investors can be placed with shares, and it is stipulated that strategic investors will not participate in offline inquiry and promise to hold shares for no less than 12 months.
3. Recently, the first strategic placement was the IPO of Industrial Fulian, which raised 2.7/kloc-0.20 billion yuan. If a stock IPO raises 2765438+200 million in the bull market, it may cause a certain capital impact at the current market point. Moreover, the market value of Alibaba and Tencent Holdings is nearly 4 trillion, even if the CDR fundraising scale is 5% of the existing market value, it is also 200 billion. The return of innovative enterprises under the new economy needs to solve the problem of CDR financing. The essence of strategic placement is to introduce long-term strategic investors to participate in new shares or CDRs by increasing the allocation ratio through a longer stock lock-up period.
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