Baosteel's warrants were bought by a large number of single cover trading limits on the first day of listing

Sina Financial News has been listed on the Shanghai Stock Exchange since today Baosteel CWB1 Warrants (580024) were opened with a trading limit, and a huge number of orders with more than 10 million hands were opened, that is, Baosteel CWB1 was sealed on the trading limit board, and maintained for the whole day. As of the closing, Baosteel CWB1 reported a trading limit price of 1.501 yuan, with a turnover rate of 0.858%.

The Shanghai Stock Exchange announced today that Baoshan Iron and Steel Co., Ltd“ Baosteel ”1.6 billion warrants of the underlying securities will be listed and traded today. The warrant transaction is abbreviated as "Baosteel CWB1" and the transaction code is "580024". The warrant is a European style warrant in the form of securities payment, with 1.6 billion shares issued, a 2:1 exercise ratio, a two-year duration, and an exercise price of 12.5 yuan.

Great Wall Securities has set the listing price range of Baosteel CWB1 at 1.64-2.3 yuan. Researchers believe that Baosteel CWB1 has a large market and it is difficult to reproduce the hype. However, as a warrant with an opening price of less than 1 yuan, there should be at least one ceiling price after listing, which is around 1.4 yuan. It is recommended to sell within the range of 1.64 to 2.3 yuan.

　　 Crazy Baosteel JPT1 2 years ago

Baosteel sent 387.7 million European style share reform warrants in 2005 Baosteel JTB1 The initial exercise price was only 4.50 yuan, which was cancelled after the exercise expired on August 30, 2006.

August 23, 2006 was the last trading day of Baosteel JTB1 warrants. Baosteel JTB1, which was almost a waste paper, plummeted by 85.78%, with a turnover rate of 1164.77%, setting a record for the highest trading volume. With Baosteel JTB1 as the representative, all investors in China's securities market witnessed a vigorous live play, which created many "world's best", and let us witness the crazy speculation in the national character.

Liu Xiaodong, the then deputy general manager of Shanghai Stock Exchange, said after the curtain call of Baosteel JTP1 that there were indeed some problems with Baosteel warrants. "In the design of warrants, there may be problems such as high exercise price, small number of issues, and long term. More importantly, because there is no supply and demand balance mechanism introduced, the supply can not keep up when the market demand is very large, which to some extent has led to the long-term sharp deviation of the warrant price from the theoretical price and the phenomenon of excessive speculation in the market."