The rise and fall of stocks is not decided by lifting the ban, and lifting the ban does not mean that major shareholders will immediately reduce their holdings. The rise and fall of stocks are determined by supply and demand, capital, performance, policies, news and other factors. Lifting the ban means that a large number of non-tradable shares can circulate, and the reduction needs to be announced in advance. Non-tradable shares account for more than 5% of the total share capital, generally it takes more than two years to reduce their holdings, and non-tradable shares account for less than 5% of the total share capital, generally it takes one year to reduce their holdings.

The definition of banned shares is that restricted shares can be bought and sold freely in the secondary market after the commitment period of restricted sales. Generally speaking, from the date of lifting the ban, the shares can be traded freely. If the restricted shares held by the enterprise have been transferred to the transferee by signing an agreement before the lifting of the ban, but the equity registration has not changed and is still held by the enterprise, the income obtained by the enterprise actually reduces the restricted shares.

According to the regulations of the CSRC, the sale of the original non-tradable shares of the company after the share reform shall meet the following requirements: (1) It shall not be listed, traded or transferred within 65,438+02 months from the date of implementation of the reform plan; (2) The original non-tradable shareholders who hold more than 5% of the total shares of the listed company will sell the original non-tradable shares through listing on the stock exchange after the expiration of the period specified in the preceding paragraph, and the proportion of the shares sold in the total shares of the company will not exceed 5% within 65,438+02 months and 65,438+00% within 24 months. Non-tradable shares after obtaining the circulation right are called restricted shares because of the above-mentioned restrictions on the circulation period and proportion.

Generally speaking, the lifting of the ban on individual stocks will increase the supply of stocks. When the demand for stocks remains unchanged, the stock price will go down, but it needs to be combined with the fundamentals, prices and market conditions at that time.

For example, some stocks have oversold or broken through the region sideways, so once the ban is lifted, it is likely that shareholders' shipments will rise, and one of the stocks with poor performance will be lifted or fall at a high level. Of course, we should properly combine the market trend at that time and analyze the specific problems.

Generally speaking, for large state-owned enterprises, lifting the ban has little impact on Africa, because state-owned capital rarely reduces its holdings. As for the Growth Enterprise Market (GEM) and small and medium-sized board (SME board) that create the myth of getting rich, we need to be cautious, which will generally lead to a sharp drop.

This answer is provided by Kangbo Finance, focusing on the interpretation of financial hot events, the popularization of financial knowledge, the pursuit of professionalism and interest, so that the financial content that the people can understand can convey financial value in vivid and diverse ways. I hope this answer is helpful to you.

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