When will the results come out after the subscription of new bonds?

In the A-share market, the next trading day (T+ 1) after investors purchase new bonds, they can query the matching number and winning rate of new bonds, and the second trading day (T+2) after investors purchase new bonds, they can query the winning results of new bonds through trading account software. If an investor wins a lot of new bonds, the exchange will also have a corresponding SMS reminder, and investors can subscribe according to the number of lots won.

Investors who subscribe for convertible bonds by lottery shall, in accordance with the provisions of China Securities Depository and Clearing Co., Ltd. Shanghai Branch, ensure that their capital accounts have sufficient subscription funds at the end of T+2 day. If the investor's subscription funds are insufficient, the insufficient part shall be deemed as abandonment of subscription. Online investors who have won the lottery for three consecutive times within 12 months, but have not paid in full, shall not participate in the online subscription of new shares, convertible bonds, exchangeable bonds and depositary receipts within 6 months from the date when China Clearing Shanghai Branch receives the waiver declaration. It is the investor's judgment to give up the subscription, and the number of times to give up the subscription is also calculated according to the number of times that the investor actually gives up the subscription of new shares, convertible bonds, exchangeable bonds and depositary receipts.

Subscribing for new bonds refers to subscribing for convertible bonds or exchangeable bonds issued by listed companies. Subscribing for new bonds generally refers to subscribing for convertible bonds or exchangeable bonds issued by listed companies. Convertible bonds are called convertible corporate bonds. Like other bonds, convertible bonds have stipulated interest rates and maturities, but unlike ordinary bonds, convertible bonds can be converted into stocks under certain conditions.

Convertible bonds are bonds that bondholders can convert into common shares of the company at an agreed price at the time of issuance. If the bondholders do not want to convert shares, they can continue to hold the bonds until the repayment period expires to collect the principal and interest, or they can be sold and realized in the circulation market. If the holder is optimistic about the appreciation potential of the issuing company's shares, he may exercise the right to convert the bonds into shares at a predetermined conversion price after the grace period, and the issuing company shall not refuse. The interest rate of this bond is generally lower than that of ordinary companies, and the issuance of convertible bonds by enterprises can reduce the financing cost. The holder of convertible bonds also has the right to sell the bonds back to the issuer under certain conditions, and the issuer also has the right to redeem the bonds under certain conditions.

Convertible bonds have the characteristics of double options. On the one hand, investors can choose whether to convert shares and bear the cost of lower interest rate of convertible bonds; On the other hand, the issuer of convertible bonds has the right to choose whether to implement the redemption clause, so it has to pay a higher interest rate than convertible bonds without redemption clause. Double option is the most important financial feature of convertible corporate bonds, which limits the risks and returns of investors and issuers to a certain range and can be used to hedge stocks and obtain more certain returns.