May Gem share of the IPO to decline

Securities Times reporter Liu Chaoling the recent a-share market continued deep adjustment, the first day break phenomenon frequency, with the market valuation center move downward, May Gem issued a P/E ratio and super raise proportion in April high after a gradual downward trend. Reporter on the gem since the opening of the new shares issued by the general situation of statistics, in batches, the April 21, 2010 issue of National Technology, Ningbo gqy, Linda Silk, China and Switzerland, 4 gem, the average super raise ratio of new shares, reached 412.24%. After the high point, the average number of IPOs issued May 6 and 13th has begun to decline gradually. Among them, the May 6 issue of the Austrian shares, such as 5 of the average super raise ratio of 335.88%, May 13 issued silver Jay, such as 4 of the average super raise ratio of 305.37%. Despite the decline in the average IPO ratio in May, compared with previous figures, the average number of IPOs issued in May is still high.　　October 15, 2009 issued silver shares, Jiffeng agricultural machinery, Huayi Brothers, such as 9 stocks, the average over 113.65%, for the previous gem issue of the lowest. It is noteworthy that the arithmetical average price-earnings ratio also fell in the two batches of new shares issued in May.　　The May 6 issue of 5 new shares, May 13 issued 4 new shares, the arithmetic average issued a P/E ratio of 63.93 times times and 58.44 times times respectively, compared to the April 21 issued 4 new shares 80.88 times times the arithmetic average issue price/earnings ratio, a significant decline. But overall, the gem issue of high P/E, super raise serious phenomenon has not changed fundamentally, the May IPO average P/E ratio and the proportion of super raise is still higher than the historical minimum value. Among the 88 companies that have already issued the gem, 6 are the top three of which are Jinlong electromechanical, Century Ding Li and Oriental Wealth, and the issuance of P/E multiples of 126.27 times times respectively,　　123.94 times times and 116.93 times times, the issuance of the lowest price/earnings ratio of Shanghai Jia Hao, 40.12 times times; the ratio of super raise funds of more than 4 times times the number of 8, the first national technology, the proportion of super raise up to 609.35%, the lowest proportion of the Pathfinder, then 53.07%. At present, the gem market is still in shock downward, the first day of the IPO return on the decline is obvious, participate in the network dozen new institutions are also frequently quilt cover, high price issue has been many people in the industry to refer to the break "culprit." Some analysts believe that the break is the market for the issue of new shares in the process of irrational behavior warning, may be on the issue of new shares to suppress, but the issue of new issues, but also need to be addressed from the source of the system.