On the first day of listing, the stock price falls below the issue price after the first day of listing, so that those investors who buy new shares in the primary market will be at a loss. This situation is actually relatively rare. Under normal circumstances, new shares will rise sharply on the first day of listing, and there is no limit to the increase. Therefore, once the new shares are issued, many people will rush to buy them. In the end, only by drawing lots can we decide who will win the lottery. Breaking new shares is very common in volatile or bear markets, and there is no precedent for breaking new shares issued in bull markets so far.
There is no price limit for IPOs in Shanghai and Shenzhen stock markets on the first trading day, and the price limit after the first trading day is 65,438+00%. Growth Enterprise Market and science and technology innovation board IPO have no price limit on the first trading day, and the price limit is 20% after five trading days.
At present, according to the regulations of the exchange, the highest increase of the share price on the first day of listing is 44% of the issue price. If the price rises too much on the first day of listing, there will be a temporary suspension: when the intraday price rises or falls for the first time to 10%, there will be a temporary suspension for 30 minutes, and when the price rises or falls for the first time to 20%, it will be suspended at 2: 55 pm on the same day.
What is the reason for the first day of listing?
1, the issue price is too high.
This is one of the most important reasons for the first day of IPO. In order to get more money, some companies set the issue price too high, and brokers cooperate with listed companies to get more profits. For example, the former xd in China was broken soon after its opening, because the issue price was too high.
2. The market is at a low level.
Under normal circumstances, when the market is in a position, the issuance of new shares is easy to break, which is proved by the breaking record of the previous year.
The market is maturing.
This is the key reason for the first day of IPO. This maturity is also relatively mature. If it is very mature, new shares will not be issued at this issue price. At present, it is only slowly recognized by the market after the opening transaction. So some stocks fell below the issue price after trading for a period of time.