after waiting for a period of refreshing, the foundation will issue shares on its own.

data expansion:

the characteristics of rights issue A major feature of rights issue is that the price of new shares is determined according to the stock market price at the time of issuance announcement. The discounted price is to encourage shareholders to bid for the subscription. When the market environment is unstable, it is very difficult to determine the matching price. Under normal circumstances, the price of new shares is discounted by 1% to 25% according to the stock market price at the time of issuing the rights issue announcement. Theoretically, ex-dividend price is the weighted average price of shares and new shares before the announcement of the issuance of additional shares, which should be the stock price after the placement of new shares.

2. Analysis of advantages and disadvantages of rights issue

1. Rights issue is not a dividend, but a return of listed companies to shareholders' investment. Its characteristics are: listed companies are payers, shareholders are harvesters, and shareholders reap the operating profits of listed companies, so dividends are based on the operating profits of listed companies. Without profits, there will be no dividends. Dividends of listed companies usually take two forms. One is to send cash dividends, that is, listed companies will return part of their profits at a certain stage (usually one year) to shareholders in cash, so as to return their investment; In addition, it is to send bonus shares, that is, the company will convert the cash dividend due to shareholders into capital to expand production and operation, and then return it to shareholders in the coming year. However, the rights issue is not based on profit. As long as shareholders are willing, even if listed companies suffer losses, they can issue rights issues. Listed companies are the demanders and shareholders are the payers. Shareholders make additional investments, and the joint-stock company gets funds to enrich its capital. Although the number of shares held by shareholders has increased after the rights issue, it is not the return of the company's investment in shareholders, but a certificate after additional investment. Why do investors confuse rights issue with dividends? This is due to the immaturity of China stock market and investors. The time when the modern China stock market was founded greatly stimulated people's enthusiasm for speculation in the market, and listed companies took advantage of this by placing new shares to old shareholders at low prices, which not only strengthened the company's financial strength, but also satisfied the shareholders' thirst for stocks.

2. rights issue and investment choice according to the relevant provisions of the company law, when a listed company wants to issue new shares, it should first do so among the old shareholders to ensure that the old shareholders' shareholding ratio in the company remains unchanged. When the old shareholders are unwilling to participate in the company's rights issue, they can transfer the allotment to others. For the old shareholders, the rights issue of listed companies actually provides a choice opportunity for additional investment. Whether the old shareholders choose rights issue to increase their investment in listed companies can be judged according to the operating performance of listed companies, the investment of rights issue funds and the level of benefits. However, in the real economic life, in addition to the rights issue, investors can also purchase other companies' stocks, investment creditor's rights and residents' savings to achieve additional investment, and the key is to determine the investment income. For example, the rate of return on net assets of listed companies with rights issue is not up to the interest rate of residents' savings deposits. Obviously, the operating efficiency of listed companies is too poor, and its return on investment is difficult to compare with residents' savings. Therefore, shareholders may not choose rights issue as a way to increase their investment in listed companies.

of course, when a listed company confirms the rights issue, if the warrants of rights issue cannot be circulated, its rights issue will be mandatory, because after the rights issue is implemented, the stock will be ex-entitled and the price will fall. If the old shareholders do not participate in the rights issue, they will suffer the loss of market value decline. The only way to avoid the rights issue is to sell the shares before the rights issue.

In the rights issue of listed companies in China, due to the nonstandard operation of the China joint-stock system, China shares and legal person shares of listed companies occupy an absolute controlling position. These major shareholders strongly support the rights issue but can't contribute capital to participate in it, and they also transfer their rights allocation to individual shareholders of listed companies by force. This kind of action is actually an infringement on the rights and interests of minority shareholders.