Second round of IPO reform to test water price P/E ratio remains high for the first time

BCC network Beijing November 9 News (reporter Tisuping) according to the Voice of China's "national news broadcast" reported that the second round of reform of the IPO system to test water for the first time tomorrow, but from the listing of three new shares of the pricing, the fresh test water effect is flat, p/E is still high. From the smallest day of the plate fire, 87 institutions participated in the network inquiry, the final price of 20.19 yuan/shares, diluted 69.12 times times the price of earnings, and the owner of electrical appliances after 101 institutions of the offer, the issue of prices determined to 24 yuan, issued a P/E ratio of 47.06 times times. In contrast, since the second half of this year, the SME board and Gem has an average of 54 times and 63.6 times times earnings.　　In a comprehensive view, the effect of the second round of reform of the distribution system is not obvious. More importantly, these three new shares also did not disclose which agencies are involved in the offer, the highest price quoted, and who?　　Counter-view gem of the new issue, although not disclose the specific name of the organization, but still can see the fund, brokerage, trust, insurance agencies of the four types of price range, at least to indicate the price of the "most ruthless" type of institutions. In the context of the current high price of new shares, the regulatory layer can be more open to those who offer more than the final issue of the name of the organization, can be used as clues to find the crux, but also to mobilize all investors to jointly monitor the behavior of these institutions.