The rules of new shares are not unfair

-Our correspondent Wang Ting had on the fairness of the rules of new shares, the market personage pointed out that no matter what the current number of the wave scheme will not change the overall rate of check, and because the lottery is random, so now commonly used in the IPO method is not unfair. A few days ago, financial media in the title of "Strange new shares probability: 9%." The rate of the check is less than 8%. , said in the report, under the "5+4" lottery rules, 9%. Check rate to buy 200 consecutive number to guarantee the check, and in 8%. Check rate, as long as the purchase of 125 consecutive number can guarantee the check, looks 9%. The rate of the check is less than 8%.　　, the rule of the IPO is against the equity principle of the securities market. Haitong Securities related people said: The new shares lottery by the main underwriter commissioned Securities Information Co., Ltd. to formulate the plan, after the main underwriter, issuers agreed to implement.　　The new Shares lottery program is very strict process, the process mainly includes the signing of the three-party notarial book, the issuer from 10 groups of randomly selected 3 groups, notaries, lottery, notary notaries and other links, in accordance with the open, fair and impartial principles, the "random and balanced combination" approach. How many consecutive numbers in the above media report can guarantee the analysis of the check, in fact, to illustrate the number of different numbers range of the rate level, for some specific purchase number interval, its check rate is indeed lower than the overall rate, but on the other hand, there are some of the purchase number in the range of the check rate is higher than the overall rate of the case. So, in 9%. The check rate, whether the use of split into "5%." +4%. "or split into" 8%. +1%. "Again the scheme of the number, the above differences will exist." This difference does not change the overall rate of check, that is 9%. Moreover, because the lottery is random, fall in the high probability of the interval or fall in the probability of the lower section of the check rate is equal to all the purchase number, from this point of view, now commonly used in the new shares of the lottery method is fair.