Caitong Securities responds to the "No Discarding of Shares" SMS: a risk reminder SMS sent to the sales department
Can't abandon the purchase of new shares in the lottery?
On April 14, a screenshot of a reminder text message sent by Caitong Securities (601108) circulated on the Internet. The company will freeze funds in accordance with state regulations and shall not give up shares. Shareholders are hereby reminded.”
In this regard, on the evening of April 14, Caitong Securities told The Paper that the full content of the last sentence of the screenshot is: I hereby remind investors and friends that they must make their own risk judgments before purchasing new shares, and whether they are in line with their investment values. Purchase carefully to avoid loss of your own assets.
"After investigation, this text message is a risk reminder text message sent by a business department of our company to its customers." Caitong Securities said that the main starting point of the business department is to provide customers with risk reminders before IPO subscription and make risk judgments. , subscribe carefully to avoid loss of your own assets.
Caitong Securities also stated that the text message is only for customers of the business department and has a limited impact.
Caitong Securities has three explanations for the risk warning basis of text messages: First, according to the relevant regulations of the Shanghai and Shenzhen Stock Exchange's IPO Online Issuance Rules, "After the investor has won the lottery for the subscription of new shares, he should perform the obligation of fund delivery according to the result of the lottery. , if the subscription funds are insufficient, the investors shall bear the consequences and legal liabilities themselves.”
The second basis is the "Administrative Measures for Issuance and Underwriting of Securities" that "offline and online investors should pay for subscription funds in full and on time after they subscribe for new shares, convertible corporate bonds, and exchangeable corporate bonds for placement. In the event of failure to pay in full after winning the lottery for 3 times within 12 months, you will not be allowed to participate in the subscription of new shares, convertible corporate bonds, and convertible corporate bonds within 6 months.”
In addition, the third basis is the "Q&A for the Implementation Rules for Online and Offline Issuance of Stocks in Shanghai and Shenzhen IPOs (Revised in 2016)", "The settlement participants shall freeze or deduct the funds for subscription of new shares in the investor's capital account in a timely manner. paragraph” guidance.
After inquiries, according to Article 18 of the "Implementation Rules for the Online Issuance of Stocks for Initial Public Offerings in Shenzhen Market (Revised in January 2016)", "After investors have won the lottery for subscribed new shares, they should perform the obligation of fund settlement according to the results of the lottery to ensure their The capital account shall have sufficient funds for subscription of new shares at the end of day T+2. If the investor's subscription funds are insufficient, the insufficient part shall be deemed to have given up the subscription, and the resulting consequences and relevant legal liabilities shall be borne by the investors themselves." Corresponding to the first paragraph of Article 13 of the "Administrative Measures for Issuance and Underwriting of Securities".
However, in the Q&A on the Implementation Rules for Online and Offline Issuance of IPOs in Shenzhen Stock Exchange (Revised in 2016) on the official website of the Shenzhen Stock Exchange, the reporter did not search for “settlement participants should promptly freeze or freeze the IPO subscription funds in investors’ capital accounts. Deductions" related statement.
Upon inquiry, the statement appeared in Article 9 of the Questions and Answers on the Implementation Rules for the Online and Offline Issuance of Stocks for Initial Public Offerings in Shanghai and Shenzhen Markets (Revised in 2016) in Baidu Wenku.
"In order to remind investors to pay in time, and to convey the exchange's obligation to settle funds after winning the lottery, the business department edited and sent relevant text messages to customers." Caitong Securities also stated that some of the text messages The content words and expressions are not rigorous and complete.
In the follow-up, the company will also provide explanations to customers. While doing a good job in investor education, it will protect the legal rights of investors and further strengthen internal management.
Recently, the phenomenon of IPO breakout has gradually emerged.
For example, on April 12, 3 new stocks, Ruide Intelligent (301135), Haichuang Pharmaceutical (688302) and Weijie Chuangxin (688153), were listed, and there was a collective break in the opening market. As of the close of the day, Weijie Chuangxin and Haichuangxin Both Chuang Pharmaceutical fell sharply from the issue price.
In this regard, the Yuekai Securities Research Report pointed out that since the end of last year, the market has entered a continuous adjustment, and it is not uncommon for new stocks to break.
Yuekai Securities also stated that it is expected that the rising abandonment rate will put pressure on the investment banking income of securities companies in the short term, but to a certain extent, this will also force institutions to set prices more reasonable, and subsequent issuance price-earnings ratios are more objective and rational.