Will you regret it? The most expensive IPO this year was abandoned and over 500 million yuan was bought

　　Original title: Will you regret it?

This year's most expensive new shares were abandoned for over 500 million yuan!

Sponsor underwriting ratio will reach 9%

　　The new shares with the highest issue price in 2022 were abandoned by both retail investors and private equity.

　　On the evening of September 12, Huabao Xinneng, whose issue price was as high as 237.5 yuan per share, finally disclosed the issuance results.

Surprisingly, although this new stock received 4,678 times the effective online subscription in the early stage, and the winning rate was only 0.02%, it was eventually abandoned by online investors to buy 2.21 million shares, with a total amount of 525 million yuan. A private equity firm also abandoned the purchase of about 85,000 yuan.

Wind data shows that since the beginning of this year, 12 new stocks have been abandoned by investors because of large amounts, resulting in underwriters underwriting over 100 million yuan.

The most expensive new shares abandoned more than 500 million

　　Huabao Xinneng can be described as the most expensive new stock this year, and the fifth most expensive new stock in A shares.

Its issue price is as high as 237.5 yuan per share, which is slightly higher than the new shares of Nanochip (230 yuan per share) listed in April this year.

The announcement shows that the price-earnings ratio of Huabao Xinneng's issuance is 84.6 times, and the reference industry's price-earnings ratio is 37.2 times, exceeding the range of 127.42%.

　　It is worth noting that Huabao Xinneng plans to raise 676 million yuan in this IPO, but the final net fundraising amount is as high as 5.595 billion yuan, which is 7.28 times more than the proposed fundraising amount.

　　However, data shows that Huabao Xinneng encountered a total of about 2.21 million shares abandoned by online investors, and the amount of abandoned purchases was as high as 525 million yuan.

At the same time, another offline investor abandoned the purchase of 358 shares, and the abandonment amount was about 85,000 yuan-although from the perspective of the amount, this abandonment may not be intentional.

　　In the end, the number of shares abandoned by Huabao Xinneng’s online and offline investors were all underwritten by the sponsor and lead underwriter Huatai United Securities. The number of underwritten shares was 2.21 million shares, and the underwriting amount was 525 million yuan. The number of underwritten shares accounted for the principal. The proportion of the number of issued shares reached 9.01%.

　　In fact, as a leading enterprise in the portable energy storage industry, Huabao New Energy was very popular in the market in the early stage of issuance.

At that time, the initial effective online subscription multiple of this new stock reached 7961.73 times, and thus the callback mechanism was launched.

After the callback, the final number of shares issued online was 11.9025 million shares, the winning rate was only 0.0214%, and the effective subscription multiple was still as high as 4678.37 times.

Will you regret giving up on buying new shares?

　　Due to the high issue price, the subscription amount of the winning first-hand Huabao Xinneng is as high as 118,800 yuan, which may also increase the abandonment ratio of this new stock to a certain extent.

　　According to statistics from Wind data, a brokerage China reporter found that among the new A-shares listed this year, there are 12 underwriters with an underwriting amount of more than 100 million yuan, of which 7 are "expensive shares" with an issue price of more than 100 yuan.

Taking Nanochip with an issue price of 230 yuan per share as an example, the underwriting amount of the underwriting agency was as high as 778 million yuan; another two hundred yuan new shares, Jingwei Hengrun and Zhongyi Technology, were also underwritten by the underwriter for over 300 million yuan.

　　According to experience, there is a high probability that Huabao New Energy will be listed on the Growth Enterprise Market this week. The market is quite curious about how this new stock will perform after its listing.

Although it was abandoned by a large amount before the listing, the real over-fundraising still gave this new stock a lot of room for imagination.

Moreover, it is not uncommon for new shares to be abandoned at the issuance stage and to turn over after the listing, which also makes some abandoners regret it.

　　For example, on September 9 not long ago, Xinde New Materials with an issue price of 138.88 yuan ushered in the first day of listing. Its highest price in early trading soared to 180 yuan, with a maximum increase of 29.6%, which means that the winner of the lottery can earn a maximum of over 20,000 yuan. .

However, this new stock with the third highest issue price on the GEM during the year was abandoned during the subscription and payment stage of 1.09 million shares, and the amount of abandoned purchases reached 152 million yuan.

　　On November 10 last year, the registered new stock with the highest abandonment rate at that time, Qiangrui Technology, performed strongly on the first day of listing, and soared nearly 170% during the session.

If calculated based on the closing price on the first day of listing, the first lottery can make a profit of 13,000, and the Guosen Securities, which underwrites nearly 510,000 shares, has a floating profit of more than 13 million yuan on the day.

Juyi Technology, a registered new stock listed on the same day, closed up 94.57%, and Guoyuan Securities underwritten nearly 240,000 shares. If calculated according to the above method, the book floating profit would be about 10.34 million yuan.

(Broker China)