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新股发行价格的确定,是新股发行中最基本和最重要的环节,新股发行价格的高低决定着新股发行的成功与否,关系到各参与主体的根本利益,影响到股票上市后的具体表现。本文从对新股抑价现象的理论分析基础上,对新股抑价现象带来的问题提出了一些建议,希望对降低新股抑价、提高发行市场效率有一些帮助。
The determination of IPO price is the most basic and important link in IPO. The issue price of new shares determines the success or failure of new shares issuance, which affects the fundamental interests of all participating parties and affects the specific performance after the listing of shares. Based on the theoretical analysis of the underpricing of new shares, this paper puts forward some suggestions on the problems caused by the underpricing of new shares, hoping to help reduce the underpricing of IPO and the efficiency of the issue market.