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@诸葛厂涨：通过博雷顿聊聊一下什么是反向（套路）回拨

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<a href=\"https://laohu8.com/S/02097\">$蜜雪集团(02097)$</a> 还有即将要上市的 <a href=\"https://laohu8.com/S/02589\">$沪上阿姨(02589)$</a> 而这些股呢，大部分都是正常回拨的情况，这里我截个雪王的孖展倍数图</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ae9a9a46f323df243896331b36b3840\" tg-width=\"1170\" tg-height=\"2121\"></p>\n<p>下方的柱状图展示的就是孖展倍数对应的正向回拨比例，这里我又截图了 <a href=\"https://laohu8.com/S/01333\">$博雷顿(01333)$</a> 的招股说明书里面的一段话，大家可以对比看一下</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e72dea78ba6c38c7e4b5ab2d0fb4ede\" tg-width=\"610\" tg-height=\"233\"></p>\n<p>以上情况说的都是一些正常情况，或者说正向回拨的，下面呢，我们拿博雷顿举例说一下套路回拨的情况，下面是博雷顿招股书的一段话</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dffa530f789ae434bf0c08afd7b83219\" tg-width=\"622\" tg-height=\"224\"></p>\n<p>上面的一段话里面包含了2种 情况，我依次来说</p>\n<p>第一、假如国配认购不足，而发售股份获得足额或者超额认购，将使得回拨比例调整到20%，博雷顿就是如此的情况，看下图</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d65d040384e85f2202532c6dd2aab042\" tg-width=\"607\" tg-height=\"272\"></p>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de125b4f68b107edf2ddf5a57fe13186\" tg-width=\"612\" tg-height=\"212\"></p>\n<p>解释一下，国配0.92倍，发售股份获得了超额认购，所以回拨比例调整成20%，这也就是我们经常说的套路回拨。</p>\n<p>第二、假如国配认购全额或者超额，还有公开也是全额或者超额，但是公开认购倍数小于15倍，当这2种情况都发生的时候，保健机构可以将回拨比例调整到20%。</p>\n<p>以上2种情况就是我们经常说的套路回拨，懂了么，不懂的可以留言交流啊</p></body></html>","htmlText":"<html><head></head><body><p>大家都知道，在香港新股市场里面跟大A打新股是不一样的，大A是市值申购，你市值多，可以打新的新股数量就多，而港股新股呢，是用现金或者融资申购的，你有一万，按照新规最多可以融资孖展申购10万市值的新股。而在港股打新的过程中，有的时候会看到孖展倍数很高的情况，比如最近的雪王 <a href=\"https://laohu8.com/S/02097\">$蜜雪集团(02097)$</a> 还有即将要上市的 <a href=\"https://laohu8.com/S/02589\">$沪上阿姨(02589)$</a> 而这些股呢，大部分都是正常回拨的情况，这里我截个雪王的孖展倍数图</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ae9a9a46f323df243896331b36b3840\" tg-width=\"1170\" tg-height=\"2121\"></p>\n<p>下方的柱状图展示的就是孖展倍数对应的正向回拨比例，这里我又截图了 <a href=\"https://laohu8.com/S/01333\">$博雷顿(01333)$</a> 的招股说明书里面的一段话，大家可以对比看一下</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e72dea78ba6c38c7e4b5ab2d0fb4ede\" tg-width=\"610\" tg-height=\"233\"></p>\n<p>以上情况说的都是一些正常情况，或者说正向回拨的，下面呢，我们拿博雷顿举例说一下套路回拨的情况，下面是博雷顿招股书的一段话</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dffa530f789ae434bf0c08afd7b83219\" tg-width=\"622\" tg-height=\"224\"></p>\n<p>上面的一段话里面包含了2种 情况，我依次来说</p>\n<p>第一、假如国配认购不足，而发售股份获得足额或者超额认购，将使得回拨比例调整到20%，博雷顿就是如此的情况，看下图</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d65d040384e85f2202532c6dd2aab042\" tg-width=\"607\" tg-height=\"272\"></p>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de125b4f68b107edf2ddf5a57fe13186\" tg-width=\"612\" tg-height=\"212\"></p>\n<p>解释一下，国配0.92倍，发售股份获得了超额认购，所以回拨比例调整成20%，这也就是我们经常说的套路回拨。</p>\n<p>第二、假如国配认购全额或者超额，还有公开也是全额或者超额，但是公开认购倍数小于15倍，当这2种情况都发生的时候，保健机构可以将回拨比例调整到20%。</p>\n<p>以上2种情况就是我们经常说的套路回拨，懂了么，不懂的可以留言交流啊</p></body></html>","text":"大家都知道，在香港新股市场里面跟大A打新股是不一样的，大A是市值申购，你市值多，可以打新的新股数量就多，而港股新股呢，是用现金或者融资申购的，你有一万，按照新规最多可以融资孖展申购10万市值的新股。而在港股打新的过程中，有的时候会看到孖展倍数很高的情况，比如最近的雪王 $蜜雪集团(02097)$ 还有即将要上市的 $沪上阿姨(02589)$ 而这些股呢，大部分都是正常回拨的情况，这里我截个雪王的孖展倍数图 下方的柱状图展示的就是孖展倍数对应的正向回拨比例，这里我又截图了 $博雷顿(01333)$ 的招股说明书里面的一段话，大家可以对比看一下 以上情况说的都是一些正常情况，或者说正向回拨的，下面呢，我们拿博雷顿举例说一下套路回拨的情况，下面是博雷顿招股书的一段话 上面的一段话里面包含了2种 情况，我依次来说 第一、假如国配认购不足，而发售股份获得足额或者超额认购，将使得回拨比例调整到20%，博雷顿就是如此的情况，看下图 解释一下，国配0.92倍，发售股份获得了超额认购，所以回拨比例调整成20%，这也就是我们经常说的套路回拨。 第二、假如国配认购全额或者超额，还有公开也是全额或者超额，但是公开认购倍数小于15倍，当这2种情况都发生的时候，保健机构可以将回拨比例调整到20%。 以上2种情况就是我们经常说的套路回拨，懂了么，不懂的可以留言交流啊","highlighted":1,"essential":1,"paper":2,"link":"https://laohu8.com/post/432471667281976","repostId":0,"isVote":1,"tweetType":1,"commentLimit":10,"symbols":["02097","02589","01333"],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":1039,"optionInvolvedFlag":false,"xxTargetLangEnum":"ZH_CN"},"isVote":1,"tweetType":1,"viewCount":168,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":27,"optionInvolvedFlag":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/432703488692408"}