首批科创板成长层3只新股采用约定式限售 A股打新市场又有新变化

Core Viewpoint - The introduction of the first three new stocks in the growth tier of the Sci-Tech Innovation Board (STAR Market) marks a significant development in the A-share market, utilizing a new agreed lock-up method for offline subscription, which is a first for A-shares [1] Group 1: New Stock Subscription Method - The three new stocks adopted an agreed lock-up method during the offline subscription phase, which is a novel approach in the A-share market [1] - This method is part of the implementation of the "Eight Guidelines for the STAR Market," which aims to increase the lock-up ratio and duration for offline investment institutions in the case of unprofitable companies [1] - The introduction of this method is expected to provide more flexibility in the offline lock-up and allocation arrangements for unprofitable companies, while also raising the requirements for underwriters' pricing and sales capabilities [1]