In fact, like any IPO, the final income depends on two points. On the one hand, the issue price is everyone's cost, on the other hand, it is the height of IPO speculation.
As it is the first batch of science and technology innovation board enterprises, new shares are likely to be sought after. However, in the first point, science and technology innovation board IPO pricing adopts market-oriented inquiry method, which cancels the restriction of 23 times the price-earnings ratio of new shares, and is determined by issuers and underwriters through offline inquiry of professional institutions, which also helps to narrow the difference between IPO pricing and secondary market valuation and return the pricing to a reasonable level.
Coupled with the expectation of science and technology innovation board's first round of speculation, offline market-oriented inquiry may be raised first, and the speculation space in the secondary market will be compressed.
According to the Implementation Measures for the Issuance and Underwriting of Science and Technology Innovation Board Shares of Shanghai Stock Exchange (hereinafter referred to as the "Implementation Measures"), online investors can determine the online subscription amount according to their market value, and each subscription unit can be subscribed for every 5,000 yuan market value, and the part less than 5,000 yuan is not included in the subscription amount.
At the same time, the subscription unit for each new share is 500 shares, and the subscription number should be 500 shares or an integer multiple thereof, but the maximum subscription number should not exceed one thousandth of the initial online issuance number at that time, and should not exceed 99,999,500 shares. If it is exceeded, the subscription will be invalid.
Baidu encyclopedia-subscription of new shares