China Telecom’s stock issuance is 10.4 billion, but the tradable shares are only 5.7 billion. Where are the rest?

China Telecom’s stock issuance is 10.4 billion, but the tradable shares are only 5.7 billion. The rest are still in the lock-up period and cannot be traded.

1. After the stock is listed, the chips of the original shareholders cannot be traded immediately. There is a lock-up period. The remaining shares of China Telecom are in the lock-up period and cannot be listed for trading until the ban is lifted;

2. After the lock-up period ends, these stocks will become tradable stocks and can be listed and traded;

3. During the lock-up period, if you sell stocks, it is illegal and you will be punished. The penalties are very high.

After the stock is listed, shareholders who hold the original stock cannot sell the stock immediately in the stock market. These stocks have a lock-up period, which is basically more than one year. After the lock-up period ends, , these stocks can be traded on the stock market. If you sell your stocks during the lock-up period, this is an illegal act. The China Securities Regulatory Bureau will impose corresponding penalties. Basically, the illegal gains will be confiscated and you will be fined three times the transaction amount. Therefore, no one will take risks. After all, you have paid a lot of money. The price is too high.

1. Investors holding original shares will have a lock-up period after the stock is listed

Under normal circumstances, only the company management and old employees will have original shares, and the price of the original shares Very low. As long as the stock is listed, the income of the original stock will be at least twice as much. Shareholders holding the original stock cannot sell the stock immediately after the stock is listed. They must sell the stock for cash after the lock-up period ends.

2. It is illegal to sell stocks during the lock-up period

If the stocks you hold are still within the lock-up period and you sell the stocks at this time, it is illegal. At this time, the China Securities Regulatory Bureau will deal with you, which basically means confiscating the illegal gains and imposing a fine of three times the amount of the transaction. The price of illegal transactions is very high.

3. Uncirculated stocks are stocks that hold original shares

Everyone must note that the holders of original shares here also include strategic partners, and these people have participated. They will also receive corresponding original shares for the company's listing plan, and their shares can only be traded after the lock-up period is lifted.