公开发行新股

为了保证样本的一致性，我们将样本区间限制在2001年以后，主要是因为从2001年以后，上市公司除配股外还可公开发行新股。

In order to ensure the consistency of the sample , we will limit the sample interval since 2001 , mainly because from 2001 , listed companies can , inter alia public offering of allotment of new shares .

首次公开发行新股（InitialPublicOffering，简称IPO）的初始超额收益在各国资本市场都普遍存在。

The initial underpricing of Initial Public Offering ( IPO ) exists in many capital markets .

首次公开发行新股时的相关信息披露是利益相关者重点关注的问题，其中的盈利预测又是众多投资者关注的焦点，而在我国IPO公司中，很多公司都不愿意披露其盈利预测信息。

The information disclosure of initial public offerings is an important aspect , in which , profit forecast is the focal point that a lot of invertors show solicitude for . But in our country , among IPO listed companies , majority unwilling disclose the information of their profit forecast .

你也可能对花旗银行在首次公开发行新股时，零售渠道的交叉销售产生兴趣。

You may also be interested to learn more about the cross-selling efforts of Citibank 's retail channels in the distribution of initial public offerings .

股权分置改革之后，没有盈余下限要求的定向增发融资（非公开发行新股融资）成为各家上市公司股权再融资的新宠，其实质是在大股东控制下实施的一种再融资行为。

After the equity division reform , more and more listed companies show a strong preference to carry out the private equity placement ( non-public seasoned equity placement ) without minimum surplus-required , which is essentially the behavior of refinancing equity under the control of the majority shareholders .

IPO抑价是指首次公开发行的新股的上市首日收盘价格高于其发行价格而产生的收益。

IPO underpricing refers to the investment return by which the closing price at the first day of IPO is higher than issuing price .

本文以1997年至2005年845只在沪深证券交易所首次公开发行的新股为样本，采用实证分析的方法检验了我国A股市场IPO的抑价现象。

This article uses 845 new stocks of initial public offerings in Shanghai and Shenzhen from 1997 to 2005 as a data , and does empirical study to test the phenomenon of IPO underpricing in China A-shares market .

在全流通发行的新时期，首次公开发行的新股上市后不再有流通股和非流通股之分，所有股份都是流通股。

In circulation era , the initial public offering IPO is no longer divided into tradable shares and non-tradable shares , all shares are tradable shares .

Facebook首次公开上市发行的新股本来是人人争抢的对象，不想最后却成了烫手的山芋。

The must-have deal of the year turned out to be a dud .

大型金融集团中国信托金融（chinatrustfinancial）早些时候宣布，计划通过私募或公开发行方式发行新股。

Chinatrust Financial , a big financial group , earlier announced plans to issue new shares through private placement or public issuance .

首次公开发行又称新股发行，是指公司的普通股票第一次向公众公开发行，并随即在证券交易所挂牌交易。

New Stock Issue , referring to the first issuing of a company 's common stocks to the general public and their first trading at securities exchange is an extremely important step in bridging the first grade and second grade stock market .

国外通常采用首次公开发行预留、增发新股、股份回购三种方式来解决行权所需之股票，但这三种股票来源渠道在我国均存在着一定的法律障碍。

In foreign countries , there are usually three channels to get stock for exercising but in our country there exist legal obstacles .

IPO抑价（IPOUnder-pricing）现象是指首次公开发行的股票上市后的市场交易价格远高于发行价格，导致首次公开发行的新股上市存在较高的超额收益率。

IPO under-pricing is the stock market price much higher than the offering price , resulting in an initial public offering . IPO is a higher rate of excess return .