发起人股

30%的上市公司第一大股东为非流通的社会法人股和发起人法人股、流通股以及其他小股东，处于分散状态。

The largest shareholder of 30 % listed companies is non-tradable legal person shares , prompters ' legal shares , the tradable shares and other small shares , and they are dispersed .

2007年证券市场发生了很大的变化，一是随着股权分置改革的完成，原来的发起人非流通股可以流通了；二证券市场出现大牛市行情。

2007 , great changes have taken place in the securities market , one with the completion of the share reform , the original sponsor of the non-tradable shares can flow ; Second , big bull market in stock market .

在价格管制与额度发行背景下，发起人必须在发股收入最大化与持股比例最大化之间有所取舍，不能两者兼得。

Under the background of price regulation and proportionate issuing of stocks , sponsors are impossible to achieve both the maximization of the issuing revenue and that of the proportion of their held stocks . They must make out a balance between the two .