High-fat more than 35 shareholders big compensation 4.2 billion

-Our correspondent Liu Xinglong 25th, broken mmmm again emerged, 5 gem new shares, 4 only below the IPO price, days RUI instrument is refreshed the first day break ratio record.　　Since January this year, the secondary market is a double day, the high issuance of new shares so that issuers enjoy a premium income, but investors because of the fall in share prices caused a total of more than 4 billion yuan investment losses. Release "Hot" after the listing "cold" this January, break haze shrouded in the new shares just landed a-share market, in the listing of 26 new shares, 13 on the first day that is below the IPO price, the first day break is more and more common.　　At the same time, the proportion of break is rising, 13th sinovel first day break ratio set a new high of 9.59%, 18th style shares reached 14.4%, and the 25th day Swiss instrument will push the record up to 16.68%. If say one months ago "dozen new" or steady earn not compensate "pie", so now dozen new already built a veritable "trap". January 18, the group of New and medium-sized board new shares break; 25th, 5 gem new shares, 4 first day break, two board shares listed in the middle of this month, the Sinovel wind power, style shares are all break.　　Thus, "new" loss of money has become a common phenomenon. Historically, since 2000, a total of 42 stocks have had their first break, 39 of which are listed after 2010, with more than 90% of break shares created in the last year. Moreover, the first day break phenomenon is spreading trend, the first day of January break shares up to 13, set a single month the largest number of break, and the first day break ratio is also getting higher.　　It can be said that the current a-share market is experiencing the largest-ever mmmm. In stark contrast, the "cold" of IPOs is now a "hot" issue. In July 2010, the average price-earnings ratio of new shares was only 42.83 times times, after a short period of six months, the average issuance value of January this year has expanded to more than 75 times times. At the beginning of July 2010, the Gem index was 914 points, compared with 979 points.　　Through the comparison, we can see that the increase in the IPO valuation is far more than the small stock index, a high and low reflects the high price issue of "madness."　　Market participants pointed out that the break phenomenon of the focus of the recent market continued to callback reasons, but more important is the issue of new shares more and more high, has been seriously overdrawn the stock market capacity, contradictions will inevitably lead to the emergence of mmmm.　　The issuer made a profit. At present, the IPO frequency is hot, and after the listing has been repeatedly snubbed, which caused the issuer to enjoy a high share of profits, and let shareholders bear the loss of the price of the situation. Of the 26 stocks listed in January, according to the latest closing price, 21 have fallen below the IPO price, accounting for 85% of the total. The 21-break new shares were originally expected to raise the total amount of 9.498 billion yuan, and after the release, only super fund-raisingGold is as high as 19.243 billion yuan.　　Want 1 yuan of money, but unexpectedly got 3 yuan, for the new issuers, the super raise is no longer is more than 35 dou so simple. However, there will be profits, the debt of high price issue, and inevitably to the two-tier market investors to return.　　21 break shares of the total amount of fund-raising for 30.082 billion yuan, and according to the latest closing price, the total market value has shrunk to 25.812 billion yuan, that is to say, the collapse of the two-level market investors caused a loss of 4.27 billion yuan. The impact of the flood of high prices on the stock market is much more than these, many "high-priced" IPO has been increasing the value of small stocks, which makes investors in the impact of risk aversion to avoid small stocks, lack of funds to promote, market volatility has intensified.　　Since January, the adjustment of the market has catalyzed the transformation of the marketing style, although the market is hard to lead a strong blue chip, but the performance is obviously against the fall, but it was the song of the small stocks in a bad situation, high stock prices and high valuations are causing double kill.　　It is noteworthy that high growth is the basis for supporting the high valuations of small stocks, however, under the influence of inflation pressure increasing and the tightening of domestic monetary policy, the small and medium-sized enterprises in the middle of the industrial chain will be greatly impacted, and the future performance will be poor or the value of the smaller stocks can be further deepened. We note, of course, that the increasingly widespread break-through phenomenon has signaled a "cooling" of the first-tier markets. Since January, the issuance of new shares, Sinovel wind power, black alloy, such as 6 of the outstanding rate of more than 2%. And the whole 2010 years of the Four seasons, only the rich technology and search two new shares in the check rate of more than 2%. Online check rate of the sharp rise in the break-frequency of the shadow, investors purchase enthusiasm has long ceased.