Is the IPO also divided into online and offline?
There are two types of IPOs: online subscription of new shares and offline subscription of new shares, the former is aimed at mass investors, and the latter audience is generally arranged investors and high-net-worth individual investors. However, after the subscription of new shares is allocated, both offline and online contributors should pay the subscription funds on time and in full.
At the time of the IPO, if the number of subscribed by offline and online funders is less than 70% of the number of the public offering, the issuer and the lead underwriter can suspend the issuance.
What are the thresholds for each?
About online new funders, which is required to meet the suitability conditions of the investors in the participating sectors and meet the requirements of the corresponding market value, that is, the subscription of new shares in the Shanghai Stock Exchange requires the total market value of non-restricted A shares and non-restricted depositary receipts in the Shanghai ** market to be 10,000 yuan or more;The subscription of ** new shares requires the total market value of non-restricted A shares and non-restricted depositary receipts in the Shenzhen ** market to be 10,000 yuan or more.
About the new funders under the networkThe specific requirements are as follows:
1. The investor's demand has the best transaction records in the Shanghai market and the Shenzhen market
2. The total market value of the investor's own fund contribution account at the end of the latest month shall not be less than 60 million yuan.
3. Arrange for the investor to continue to operate and engage in ** transactions for no less than two years;Individual contributors have participated in ** transactions for at least five years, and at least one of their holdings in the last three years has been held for at least six months.
4. The investor has not been subject to administrative punishment, supervision or other disciplinary actions by the relevant regulatory authorities in the past year.
5. Other conditions required by the regulatory authorities and associations.