March new shares break tide two-level market into the 1% curse

Panorama April 13 News March new issue as a big increase in the trend, a total of 40 companies on the application will be excluded by the Spring Festival holiday effect of February, compared to January more than one times. Statistics found that the first quarter of this year, the rate of new shares slightly higher than last year average, but still 12 companies were not, in the company's sponsors, Huatai Joint securities IPO sponsorship performance is a straight backwards to make people quite surprised.　　At the same time, with the March rise in the number of homes, new shares break after the first month to reproduce the trend, and break stocks are mostly concentrated in the check rate of more than 1%, into 1% spells. In the first quarter of this year, the total number of new shares over the past March was higher than that of the Panorama network, which showed that there were 68 applications, 12 were not, and the rate was 82%. Last year, a total of 405 companies were submitted for application, 62 of them were excluded and 4 were cancelled, and the rate was 85%.　　The average rose 3% per cent in the first quarter of this year. In the months to come, the March rate was significantly higher than in February, but slightly below January. In January this year, 20 companies to apply for 2 were no, the rate reached 90%, compared with the loose before the spring festival rate, into the February IPO wind has begun to tighten quietly, the rate has plummeted to less than 60%, only 57%. In March, the issuance of new shares significantly accelerated, 40 companies to assemble the longmen, compared to January, more than one times higher.　　Although 7 are not, the rate still reaches 82.5%. In the first quarter, 12 companies were injured in the first quarter by Huatai and Darbond, the most tragic of the 12 companies, there are two companies sponsored by Huatai Securities, another two are sponsored by Everbright Securities, the remaining 8 are gold and silver securities, Haitong Securities, Hongyuan Securities, Construction Bank investment, AVIC Securities, Germany state securities, Sponsored by National Gold Securities and Bohai Securities.　　It is worth mentioning that in the first quarter of the battle, both the gold and the gold and the German securities exchanged blank for the loss of their unique opportunity. Huatai Securities and Everbright Securities are two are not, but the overall situation in the first quarter is very different. The slide in the IPO sponsorship by Huatai has been so severe that only one IPO was completed in the first quarter, with as many as 9 IPOs completed by the broker in the four quarter last year.　　Compared with Huatai, Everbright Securities is better, although two are not yet 3 are still accounted for.　　Among the other securities firms that appear to have been IPO sponsorship project performance mixed, National Gold Securities and Haitong Securities in the first quarter with 4 successful sponsors listed, China Bank investment into 3, AVIC Securities into 2, Bohai Securities and Hongyuan Securities are each into 1. March break tide new shares into the 1% magic spell after the insipid February, the first-tier market new shares broken mmmm again surging. Statistics show that March successful listing of the company a total of 34, of which 11 were listed on the first day break, break rate reached 32%, although less than January 19.6%, but it is still soaring by 21.3% compared with February. The first day of the IPO will appear break, the first-level market sentiment to disperse the most direct, this January, the successful listing of the 31 companies have 16 break, break rate as high as 52%, break haze has been extended to February, although the break rate has declined, but by poor sentiment constraints,　　February hit the new rate is significantly higher than January 1.8%. On the contrary, the high and low rate of the IPO determines the first day performance.　　March market situation is particularly obvious, in the emergence of break 11 stocks, the probability of more than 1% of 8, accounted for up to 73%. Market Personage also pointed out, "recently in the research strategy process, did discover recently the probability of the high rate and the break probabilities showed very significant positive correlation, the higher the check rate is likely to break, the lower the rate is the better."　　But how to grasp the high and low rate, for now, the March new shares in the two market debut of the 1% magic spell may have given a phased answer.　　The lower-than-average price-earnings ratio shows that the overall price-earnings ratio for the first quarter of this year is still higher than last year's full-year, with 66 times times the first Tiping and 56.7 times times last year. From a single month, the IPO price/earnings ratio has returned to its normal level last year. In January this year, the average was as high as 80 times times, the February was reduced to 60 times times, March was reduced to 57 times times, directly back to the average level of last year. (Panorama net/Shang)