FYI. Let's say there is 10 billion net shares for public offer after deducting all the instutional subscription.
The 10 billion shares should be divided by 2, and 5 billion shares to Group A and 5 billion shares to group B if there is no any exemption.
Group B is for the investors subscribing over HK$5M.
For all the small investors or 1 man 1 lot, they will affect only the 5M shares in Group A. If there are too many small investors in Group A, the shares in Group B still WON'T be transferred into Group A. It means each investor in Group A will acquire less shares or diluted. That's the mean why I said the 1 man 1 lot dilution will affect only the people in Group A but not Group B. Group B will still share the 5 billion shares no matter what.
The number of richer investors in Group B should be far less than Group A, but the amt of share subscription per investor in Group B is much bigger than Group A. We can't predict whether Group B's investors will get more shares in percentage than Group A. But however, the investors in Group B won't be diluted by the 1 man 1 lot policy.
It all depand on how hungry I am for the particular stock if I decide put more money in Group B. It's always the cheapest way to buy the IPO shares if it is a very good stock like 1800. U may get more shares in percentage in Group A. But in absolute term, the number of shares got per head is far less than Group B.
引用:
原帖由 lafite2004 於 2007-7-25 17:19 發表
I may be wrong , but I do'nt think ...applying B group can avoid the dillution of 1 man 1 lot.
As the chance for group B is only 1.33 % while for group A the worst one is 1,40 %.
Hence th ...
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本帖最後由 b4321 於 2007-7-26 00:52 編輯 ]