On November 6, the issuance system for comments published, point three: contributions, small cap stocks after market placement, direct Internet pricing.
Netizens ridicule new into "the Lottery" era-as long as the circulation market value, money or not to participate in a new, winning has to pay.
In the view of the industry, the first bus tickets would greatly reduce the success rate of new shares.
Entering the national era
Shen Wan Lin Jin Hongyuan analyst opinion, after the reform, the current new low price, low earnings, low fundraising scale continue to exist, release rhythm is still not released, several trading after IPO will no doubt continue, while new capital threshold is significantly reduced, which will attract several times that of the original investors in the new.
Under the existing rules, to have a stock market value, the second to have cash in hand. In order to sell shares as many investors new shares ridicule: "for the new shares, so I sold the few trading Board."
Now the rules changed, stocks will be able to play new, check payment, it will become a full scratch events.
"Many weak before investors will be encouraged by the advances to the cancellation mechanism, is pleased to join the new force. "Lin Jin expects new shares purchase will greatly stimulate the enthusiasm of.
Sharp decline in the success rate
Each batch of new stock, not enough context, a success rate of decrease is very real question.
Lin Jin success rate online or offline placement ratio is expected to drop sharply: "in online market placement success rate, for example, in 2000-2004, almost entirely by market value, according to the Internet, and declining success rate, in 2004, has been reduced to only 0.07%, far less than the 2015 online an average success rate of 0.58% in the first half. "
Comparison of 2000-2004, Lin Jin expected the reform success rate will likely fall further, investors participating in the new surge in current market value has also increased significantly in 2015 compared to the market value of Shanghai and Shenzhen respectively in 2004 has increased by approximately 30 times and 27 times, which means that there is sufficient amount to participate in the new principal has increased substantially.
Assuming the release conditions following the reform, released rhythm is still controlled, and about average wholesale 10-20, Lin Jin expected new shares listing under network level will generally reduce the success rate, most are expected to be 0.01%~0.2%, while generally increased after the IPO gains will initially gain range is expected to be mostly 200%~500%.
What is this concept? So far, but with the lowest success rate under the new network 0.05% online is 0.01%, and only two--Hancock East Crystal electronic and medical.
According to Lin Jin figures, net new revenue generally as low as 0.5%.
Small Cap success rate or worse
Public offering of 20 million shares (inclusive) without transfer of new old stock in small-caps, all to the online offering, not under inquiry and placement.
This is a welfare to improve retail rates, but the reality may not be so optimistic.
Lin Jin worries and offline purchase opportunity for investors is unlikely to give up small stocks, its breakdown of the Internet will lead to potential online success rate of decline.
Card gold, Huijin will play the new you?
So here's the thing, who are the biggest beneficiaries of the new new deal?
Securities times statistics show that currently permit Huijin total gold holdings are valued at 2.62 trillion yuan, ranked first in the market value of all accounts. If Zheng Jin Huijin is to participate in the market placing new, they are certainly the new Big Mac on the market today.
At present it is not known, whether the national team will purchase new shares.
In addition, up to three quarterly reports, general corporate, funds, insurance and non-financial companies hold the highest market value, general corporate accounts holding a total of 2,614 of which eight stocks, equity market capitalisation of 17.35 trillion yuan, the largest by market capitalisation. In addition, funds, insurance and market value of listed non-financial companies was 863.785 billion yuan, 794.133 billion yuan and 291.297 billion yuan, and concerns the Social Security Fund's total market value was 198.464 billion yuan. The a share Thirteen Five planning the most comprehensive
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