Category: Money tips Release Date: 2006-08-31
SSE and the Shenzhen Stock Exchange has issued stock purchase Internet distribution of funds to implement measures, which account for a substantial increase in a single purchase limit, which will basically meet the needs of most institutions of the purchase, but the limited capacity of financial strength and financing of small and medium investors in the ballot position in the industry have a different point of view.
SSE provides a single account purchase limit for when the times the number of public shares of the Internet, or 9999.9 million shares issued, each unit is 1,000 shares of purchase, purchase amount of no less than 1,000 shares, more than 1,000 shares must be an integer multiple of 1,000 shares of .
Shenzhen Stock Exchange under the single account shall not exceed the maximum purchase price of this Internet circulation, and not more than 999.9995 million shares, purchase units of 500 shares, each purchase securities account commissioned by no less than 500 shares, more than 500 shares 500 shares must be integer.
"It's the industry had expected the 'cancel subscription of new shares cap' In a different, but still significantly increased the maximum subscription of new shares of funds, especially in the Shenzhen Stock Exchange to 999.9995 million shares, most of these bodies can basically meet the purchase needs." Senior market says. A-share market placement of new shares in the market during the period, in order to meet the "thousand thousands" requirement, setting a single account to purchase a maximum of one-thousandth of the size distribution, and the new "Company Law" abolition of the "thousand thousands" The requirement, single-account limit for the purchase of new shares issued one-thousandth the size of not necessary.
For small and medium investors in the sign situation, the industry has given rise to a different view.
"IPO financing purchase of a substantial increase in the ceiling on the agency's financial strength and analysis of the challenges of greater and greater capacity, but small and limited capital investors, will face a lower probability of successful subscription of new shares, the opportunity cost of the high difficulty under the problem. "Ren Chengde, China Galaxy Securities analyst said," but to the entire market, it is bi-directional expansion of good. "
Wanguoceping chairman Chang Chang also believes that the purchase of new shares to increase the money limit will help prevent "Tractor" account active again, but the small investors to participate in the initiative will discount the future, are there any further enhance the enthusiasm of small investors to participate in the supplementary provisions introduction is also cause for concern. The so-called "Tractor" Account is the account due to a single purchase limit had a lower strength of many financial institutions in order to further purchase, and will be a variety of ways to use multiple accounts in order to purchase new shares.
The Shenyin Cai Chinese researcher at the Institute believes that the securities account as real-name system, the previous "Tractor" accounts will be subject to a large degree of restriction, while increasing the maximum purchase individual accounts, but the same kinds of cases in the success rate is not necessarily will decline too much, the probability of successful small and medium investors are not bound to be low.
Rong Zheng Peimin is chairman of investment advisory pointed out that a substantial increase in a single purchase limit of funds account so that the "tractor" account is almost meaningless, but "Tractor" purchase money into the account the gray point of view under the sun, small and medium investors in a more vulnerable position.
