What does stock subscription mean?

First, stock subscription is the subscription of new shares, which are subscribed in the primary market and listed and issued in the secondary market.

Second, subscription refers to the use of money to buy original shares when issuing. Because there are few new shares issued and many people buy the original shares, you can take a fixed share of the original shares as a group, for example, 500 shares for one number, and finally shake out the number of issued shares from all the numbers to generate the winning number. The shares bought by this lottery will give you the original shares, and the money without lottery will be returned to you.

China stock market is divided into three markets:

1, the market where institutions often draw lots with large funds to decide how to divide the money is the primary market.

2. The market where retail investors have been tirelessly pursuing solutions is called the secondary market.

After the company is hollowed out, the market with only shells and a pile of bones is the third board market.

Capital IPO process

1. Investors who have not opened an account first bring their ID cards to the business department to open securities accounts and capital accounts.

2. The issuer and the lead underwriter shall publish an online issuance announcement one trading day before the online issuance subscription date (T date).

3. Before accepting the subscription entrustment, the investor shall deposit the subscription money in full into the fund account designated by the securities business department connected with this Exchange.

4. On the day of subscription (hereinafter referred to as T-day), investors entrust the subscription through the securities business department networked with the SSE, and once declared, they may not withdraw their orders. Subscription time is 9: 30am-11:30am and 1: 00-3: 00 pm on T. Each subscription unit of Shanghai Stock Exchange is 65,438+0,000 shares, and the number of shares exceeding 65,438+0,000 shares must be The subscription unit in Shenzhen Stock Exchange is 500 shares, and the number exceeding 500 shares must be an integer multiple of 500 shares, and it shall not exceed the number of online pricing issues and shall not exceed 99,999,500 shares. Each securities account can only be subscribed once, and repeated subscription and false fund subscription are considered as invalid subscription.

5. Purchase quantity. The purchase number is allocated according to the actual effective purchase, each effective purchase unit is allocated a number, and all effective purchase units are allocated numbers continuously in chronological order.

6. Freeze funds. On the first day after the subscription date (T+ 1), China Clearing Shanghai Branch will freeze the subscription funds.

7. Capital verification and numbering. On T+2, China Clearing Shanghai Branch cooperated with the qualified accounting firm designated by SSE to verify the subscription funds, and the actual funds in place were deemed as valid subscriptions. When the total amount of effective subscription is greater than the number of shares issued, the SSE will allocate a number for every 65,438+0,000 shares.

8. lucky draw. The lead underwriter announces the winning rate on T+3, and organizes the lottery according to the total number of people and the winning rate, and announces the winning result on T+4.