What should I do if I win a bond but don’t pay?

If we fail to pay after winning the lottery, it will be deemed to have given up automatically, and no further payment will be made no matter what the reason is.

Here we need to note that if we always fail to pay the lottery, we will be punished and we will no longer be able to subscribe for new shares for a period of time. Because according to the relevant regulations of the Shanghai and Shenzhen Stock Exchanges, after investors successfully subscribe for new shares, they should perform fund settlement obligations based on the winning results and ensure that their capital accounts have sufficient new share subscription funds at the end of T+2.

If investors have insufficient subscription funds, the insufficient part will be deemed to have given up the subscription. If there are three consecutive lottery wins but insufficient payment in full within 12 months, 6 months will be calculated as 180 natural days starting from the day after the settlement participant last declared that he gave up the subscription, including the next day. , you are not allowed to participate in the online subscription of new shares, depositary receipts, convertible corporate bonds, and exchangeable corporate bonds.

So it is best for us to pay in time as required, and generally, the securities company will also send a winning text message to our reserved mobile phone number to remind us to make the payment, so we can pay attention to check the information. If you do not receive the text message, you can also log in to the software or mobile APP to check it.

What should I do after the new bond subscription is successful?

1. Timely payment

The announcement date of the new bond winning result and the winning payment date are both T+2 days. For example: if you subscribe for new bonds on March 11, the winning number will be announced on March 13.

If successful, the investor needs to prepare sufficient subscription funds in the account before 16:00 on the winning payment date, and the system will automatically deduct the money at that time. If there is insufficient funds in the account, the subscription will be deemed to have been abandoned.

The minimum number of new bonds to win is 1 lot, which is 1,000 yuan. Generally, the number of winning lots will not exceed 3, so investors can prepare about 1,000 to 3,000 yuan in their accounts in advance to avoid forgetting on the day. Payment.

2. Listing and trading

After successful payment, you can just wait for the new bonds to be listed and traded. The listing time of new bonds generally does not exceed one month. Listed companies will issue listing announcements in advance before listing. The listing time of new bonds can also be checked in the brokerage app.

If investors want to earn new expected returns, they usually choose to sell on the first day of listing. Because convertible bonds are traded on a T+0 basis, there is no price limit on the first day of listing, and the expected return on the day of listing is often relatively high.

The listing and trading hours of convertible bonds are 9:15-9:25, 9:30-11:30, and 13:00-15:00 on each trading day.

3. Conversion Period

The new bond subscription will enter the conversion period about 6 months later. If investors have not sold the new bonds, they can also choose to convert the new bonds. During the period, the shares will be converted into shares of listed companies for holding or trading at the conversion price as agreed.