IPO shares plunge

-Our correspondent Cai Zongqi has been a rarity in recent times. Since the start of this year, the two cities have more than a hundredfold of more than 10 shares, including November 2, 4 in December. As a whole, the average first-rate price-to-earnings ratio of the SME board increased from July to 61 times times in November, and the gem rose from 52.8 times times July to 77.9 times times December.　　At the same time, the recent stock price of a series of diving, some new shares close to the IPO price.　　The first-rate P/E ratio has been broken for more than December 10, since this year, has listed and has been on the Internet, the network issued by the company up to 369, the start of the actual fund-raising amounted to 501.46 billion yuan, the initial issue cost 21.24 billion yuan. There are more than 20 companies starting in Shanghai this year. In January-September, the average initial price-earnings ratio was 18-45 times the same month, with the lowest first-rate ratio 14.4 times times that of AgBank. After entering October, the Shanghai stock market started to rise gradually, and the price-earnings ratio of Yong-Hui supermarket in November was as high as 73 times times, and the price-earnings ratio of Kyushu and Chint was more than 60 times times.　　However, due to the limited number of monthly listings, the higher first-rate earnings ratio of one or two listed companies has a significant impact on the average starting price ratio in Shanghai.　　Shen this year, the new listed companies concentrated in the SME board and GEM companies, the average first-rate P/E ratio from July to 45.2 times to November 61 times times, the gem from July 52.8 times times to December 77.9 times times, many shares in the initial price-earnings ratio broken hundred. Statistics show that this year, the number of IPOs in the two cities more than a hundredfold of more than 10 shares, of which the highest in the November 19 share of the Galaxy, the first 138.5 times times earnings, Watson's biological starting price earnings ratio of 133.8 times times.　　In these 10 companies have 9 for the gem company, only a search for a board company. Shares of the new stock staged a dive in recent shares. As the December 7 just listed Crestec consecutive two days after the stock price was nailed to the plate; The issue price for the 34 yuan per share of the gold ham on the first day to 78 yuan per share, the stock prices turned downward, the next encounter fell, in a row after 5 Yin line just steady footsteps. These are not cases. Days, Dahua intelligence, day wide fire, fuling mustard and other stocks listed after the decline of about 20%.　　Jiangsu broad-minded, Lifan shares is only one step away from the break. The first day of the speculation "day tour" phenomenon began to cool. December 10 listed three new shares on the first day of the increase is limited, such as the flyover lifting 13.85%, far lower than the previous Chinese ham, such as up to 129% of the rise.　　Analysts believe that a fall in new yields, a rise in risk, or a return to the rational pricing of IPOs. Dongdengwen, director of the Institute of Finance and Securities, Wuhan University of Science and Technology, said that in addition to the reform of IPO system, a number of conditions needed to realize the scientific pricing comprehensively. If we solve the shortage of new stock supply, especially the shortage of gem listing resources, we should improve Celebratetheir, and timely make up for the lack of market outside the field.